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2 Social Security Mistakes That Could Cost You During the Pandemic
Katie Brockman’s piece here notes how important it is for folks to avoid making any hasty decisions that can cause long-term consequences. Taking benefits early out of fear and delaying benefits when one cannot afford to do so are the two key points she makes. Claiming early comes with up to a 30% permanent reduction in monthly earnings. Similarly it makes little sens to claim later to get a higher check if it means running up credit card debt at high interest rates. Brockman explains the correct way during these uncertain times to approach the issue of “when” one should start their Social Security benefits. Full article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.