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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.

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