Biggest Social Security Mistakes
Social Security sends monthly retirement benefits to over 63 million Americans. Because the program is so complex and difficult to navigate, Bankrate asked the experts to list the biggest mistakes folks should avoid. These are five: 1.) Sticking to a one-size-fits-all strategy, such as information they found on the Internet; 2.) Misunderstanding how much money you’ll receive; 3.) Assuming Social Security will fully cover your expenses (it replaces just 40% of pre-retirement income); 4.) Not making extra preparations, as a woman; 5.) Taking Social Security at the wrong time; folks need to understand that taking benefits early means a permanent monthly reduction for life. Read the full article from Foxbusiness.com 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.