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3 Social Security Myths That Could Cost You Big Time
Katie Brockman reports on a survey from Nationwide that found 91% of Americans age 50+ don’t know what factors influence the maximum benefit amount they can receive. She reports in this article on three myths that could further confuse folks and costs them dearly if they believe them. The myths are: 1. Social Security is going bankrupt (it is not, but it is going insolvent); 2. It’s always better to delay claiming benefits; 3. You can claim early and still receive your full benefit amount. Full piece 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.