Monthly Archives: June 2021

What Social Security Mistakes Could Reduce Your Retirement Benefits

Social Security will be an important benefit for your retirement plans. As a typical American, it will likely be the foundation of your income in your golden years. Social Security often makes up around 33% of an elderly American’s income. However, many Americans do not fully understand how these benefits work and what the program does for you. If you go into this process unaware, you could fall into some pretty common financial traps. Falling for these traps could permanently reduce your income later on. 3 Mistakes You Should Avoid When Applying for Social Security Claiming benefits before you know how they work. If you do not understand what could impact your Social Security income, you may make poor decisions when attempting to claim benefits. You need to know how your age, work history, and marital status will affect your benefits. For example, retiring before full retirement age (FRA) will…
Read More »

Posted in Social Security | Tagged , | Leave a comment