According to The Motley Fool, there’s a lot of Social Security misinformation out there.
When it comes to Social Security, don’t freak out about the program running out of money soon. People who confuse the possible need for future reductions to benefits with the idea that Social Security will just dry up and disappear completely make the mistake of claiming benefits too early to get what they can as long as they can. By doing that, they miss out on the higher benefit that comes with filing later.
Another myth is that people think they should file for Social Security at age 65 when they also become eligible for Medicare. They should wait at least until their full retirement age (FRA) of 66 or 67 (based on year of birth) to get the higher benefit.
One more myth is the belief that Social Security is tax-free. That all depends on if you have other income sources that make your gross income higher, as well as where you live and what states do in terms of taxing benefits.
You Deserve the Benefits You Were Entitled To
Here at Council of Seniors, we’re dedicated to getting Congress to pass The SAVE Benefits Act. We need this bill to make up for Social Security cost-of-living adjustments (COLAs) that haven’t kept up with inflation over a series of years. If we succeed, eligible seniors will be reimbursed the missing $581 that should have been in your benefit all along.
Sign our petition right away and get others to help too! Let’s show Washington politicians this bill must be a top priority.
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