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5 Ways You Can Cost Yourself Social Security Benefits
Kailey Hagen notes here that you may not be the only one interested in your Social Security benefits. The government, scammers, and debt collectors are among those who would love to get their hands on as much of your benefits as they can. She explains five ways that you can lose them: 1. Social Security benefit tax; 2. Claiming benefits too early, as in any time before full retirement age (FRA), which is 66-67 depending on birth year; 3. Earning too much while claiming benefits before your FRA; 4. Scams targeting your benefits; 5. Benefit garnishment. On the last point, most debt collectors are prohibited from touching your Social Security benefits, but there are three key exceptions to that rule: The federal government, your ex-spouse, and your kids. Your benefits are fair game for them if you’re not keeping up with your obligations. Read the full piece here.
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