Over Half of Americans Are Making a Huge Social Security Mistake - AMAC & The Motley Fool

It’s a scary but accurate headline. Christy Bieber of The Motley Fool notes far too many people leave the workforce and claim Social Security benefits for the wrong reason. Bieber cites research from the Schroders Global Investor Study that found 51% of Americans indicated reaching the age of Social Security eligibility would prompt them to retire, compared to just 4% who said they’d leave the workforce as a result of hitting their financial targets for their nest egg. She notes two big problems with this approach, both of which can leave seniors much worse off than they’d be if they made different choices.  One is you cannot live on Social Security alone, and two, claiming before full retirement age (now 67) means a monthly benefit reduction for life. Full article 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.

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