Understanding and optimizing Social Security benefits is vital for ensuring a secure retirement income. Many retirees make the mistake of claiming benefits as soon as they become eligible at 62, thinking it's beneficial, but this can lead to reduced lifetime income and lower survivor benefits for spouses. Social Security is designed with complexities and potential traps, which can be costly if not navigated carefully. Awareness of these traps is key for retirees to maximize their benefits and secure long-term financial health.
Claiming Social Security benefits early, at age 62, can reduce your lifetime income and diminish the benefits available to your spouse, creating financial challenges.
Many people fall into costly traps with Social Security, such as over-relying on their benefits or making claims based on misconceptions, leading to regret.
Collection
[
|
...
]