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3 Seemingly Innocent Social Security Mistakes That Could Really Hurt You
Maurie Backman explains that your goal should be to get the most money from Social Security you can. To that end, one should avoid three seemingly minor mistakes. One, do not automatically sign up for Social Security when signing up for Medicare at age 65. Full retirement age is higher than 65. Two, don’t forget to claim at age 70 if seeking to maximize benefits, as there is no gain for going beyond 70. Three, do not ignore your annual earning statement. Check for accuracy, as benefits are based on one’s 35 highest years in the workforce (amounts will be adjusted for inflation in any calculation of benefits). Read Backman’s 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.