Latest News
5 Social Security Mistakes Many Make
Selena Maranjian says the biggest blunder most make is assuming Social Security benefits will be generous. They are not. The average 2023 monthly benefit is just $1,831 – or about $22,000 annually. Not checking your earnings record, not knowing your full retirement age (it’s now 67), and not planning for when you will commence benefits are three other big mistakes. The final mistake is assuming it will not be there based on sensationalist headlines. The program faces insolvency (an inability to pay full promised benefits) in 10 years, but not bankruptcy. Full piece here.
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.