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Five key tips to make the most of your Social Security benefits
The Motley Fool’s Selena Maranjian has these five tips for folks nearing retirement. One, know your full retirement age. It could be between 65 and 67, depending on birth year. Two, know how much income to expect. Three, learn how to maximize your benefits. Four, coordinate a strategy with your spouse. Five, don’t assume that Social Security is doomed. On the last point, while the program is headed for insolvency, that is not the same as bankruptcy. As long as there are workers, Social Security benefits can be paid, albeit smaller, unless Congress acts before the project insolvency date of 2034. More detail on the five tips here.
Note, The Association of Mature American Citizens (AMAC) has developed a bipartisan compromise, “The Social Security Guarantee Act,” to strengthen Social Security for present and future generations with modest changes now to head off across the board cuts for all. The plan takes selected portions of bills introduced by Rep. Sam Johnson (R-TX) and Rep. John Larson (D-CT) and merges them with the AMAC’s original legislative framework to create the new Act. AMAC is resolute in its mission to get the attention of lawmakers in DC, meeting with many congressional offices and their legislative staffs over the years. Learn more about AMAC’s Social Security Guarantee here…
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