Latest News

Don’t Hurt Your Social Security Benefits Without Realizing It

Social Security replaces only about 40% of pre-retirement income, yet 20% of married couples depend on their monthly checks for at least 90% of their income, according to the Social Security Administration (SSA).  Katie Brockman points to three things you could that could be hurting your Social Security benefits without even realizing it.  The first is not working a full 35 years.  The SSA fills in anything less than that with zeros, thus depressing monthly benefits in retirement.  Likewise, claiming earlier than full retirement age (now 66 to 67) means a permanent lifetime reduction in monthly benefits.  Last is not taking advantage of spousal benefits if you are entitled.  Brockman explains each in this 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.

 

 

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.

Comments On This Topic

  1. Casinos in the daytime are filled with retirees but what most don’t know is all winnings are part of your yearly income and you can’t deduct your losses from the part that SSA goes by.

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers