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Using Social Security as a “Bank”
No, you can’t get a loan from Social Security to cover a large expense. You can, however, if all of the circumstances work for you, strategically obtain a short-term repayable advance on your benefits. This strategy involves the program’s one-time “do over” rule–a provision that allows you to start your benefits and then stop them, provided you do that within a year. It’s an interesing provision, but not without risk as explained in a post by the Mptley Fool’s Maurie Backman on their website. Check it out here…
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