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Social Security Surprises – Here are 15 to Know
Christy Bieber’s article is a slide show with a good explanation of each point. Perhaps the most important points are the first and last ones– the program will only replace about 40% of pre-retirement income, and you can’t live on Social Security alone. Another key fact is benefits are lower if you claim at any age before full retirement (now 67). Benefits are losing buying power over time, and Medicare payments are typically taken out of benefits. Full list in the 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.