Key Social Security factors so few people know
Four factors that contribute to the amount you receive in Social Security benefits are these: work history, age, date you begin claiming benefits, and marital status. However, according to a survey from the Nationwide Retirement Institute, just 9% of non-retired workers over 50 can correctly name them. Katie Brockman of The Motley Fool explains the importance of knowing these is to make sure one doesn’t get shortchanged unknowingly. As she states, “once you know the basics of how your benefits are calculated, you can make educated decisions to maximize the amount you receive.” Read Brockman’s 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.