Social Security facts you should know - Think Advisor

According to the Social Security Administration, among the elderly Social Security beneficiaries, 37 percent of men and 42 percent of women receive 50 percent or more of their income from Social Security. Also, the statistics show among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. Also, Social Security benefits play a vital role in reducing poverty in every state by lifting more Americans above the poverty line than any other program. Since Social Security benefits are an important source of income in retirement in so many lives, individuals need to understand the basics of Social Security. Ginger Szala created a cheat sheet of the 10 Social Security facts everyone should know. Read Ms. Szala’s article here…

Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public service to help Americans navigate the complexities of this program. Learn more about it here…

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