Shouldn’t I take Social Security early since they are broke?

Answer: One of the myths about Social Security is that they are broke. This is more political than factual. The recent audited report of Social Security shows a surplus and is expected to run a surplus through 2023 at which time outflows will exceed inflows and the surplus will be drawn down. This is expected to last about 10 years. At that time if nothing was done currently contributions to Social Security would be able to pay 77% of promised benefits. So the real question is not will it run out of money, but would you rather have ¾ of $3000 or ¾ of $2000.