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August 26, 2024 Investor Insights Thumbnail

August 26, 2024 Investor Insights

Investor Insights

Taking Social Security Early

August 26, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions. 

 

  • Nearly half of workers plan to claim Social Security benefits before reaching full eligibility due to fears of the program running out of money or needing funds. The most popular ages to file are 65 (23%) and 62 (12%). Only 10% plan to wait until age 70 to receive the maximum benefit. 1
  • Over the past decade, 48% of the S&P 500's market value gain came from the "Magnificent Seven" stocks (excluding Tesla, which joined in 2020). In 2024, including Tesla, these stocks have accounted for 52.5% of the gain. *2
  • On average, Americans now believe it takes a net worth of $2.5 million to be considered wealthy, up 14% from last year's $2.2 million. This increase reflects both the rising cost of living and shifting perceptions of wealth. 3
  • Alphabet (formerly Google) went public 20 years ago today. Its shares have risen over 7,500% since then. Only 11 other S&P 500 stocks have outperformed Alphabet since its IPO. *4

Sources:

  1. Barrons - "There’s a Good Case for Waiting to Claim Social Security"
  2. Barrons - "BofA’s 15 Stocks for the End of the AI Trade"
  3. Bloomberg - "Evening Briefing"
  4. Bespoke - "8 Days of Gains, GOOGL Turns 20"

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter. 

Glen Eagle Wealth, LLC is a member of FINRA, MSRB and SIPC 

Glen Eagle Advisors, LLC is a SEC Registered Investment Advisor 

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