Social Security Report

What Most Retirees Don’t Know About Social Security - AMAC & Yahoo Finance

Rob Poindexter of Yahoo Finance notes that only 3% of near retirees (age 55-65) recently answered 12 of 12 true-false questions correctly on Social Security. The program is clearly not well understood, and the author discusses nine things most retirees simply do not know about Social Security. Here is the list: Social Security Isn’t Going To Disappear; Social Security Isn’t Enough To Live Off in Retirement; Benefits Are Based on Your Highest 35 Years of Earnings; Your Personal Situation Matters More Than Your Age; You Can Claim Your Ex’s Benefits; You Get To Keep the Bigger Benefit If Your Spouse Dies; Some of Your Benefits May Be Withheld; You Can Undo a Social Security Benefits Claim Decision; You May Have To Pay Taxes on Social Security Benefits. Full article and analysis of each point is here.

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