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Are You Overestimating Your Future Social Security Benefits?
Kailey Hagen cites a recent Nationwide survey that found adults age 50+ expected to receive $1,572 per month in Social Security benefits after retiring. But the reality is it will be more like $1,380 per month. Few realize income is only about 40 percent of working years’ income. The best way to know how much you can expect from the program is to create a my Social Security account. This is where the Social Security Administration tracks how much you’ve earned each year and generates projections on your monthly Social Security benefits at various starting ages. Read 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.