Getting your arms around your Social Security benefits can be pretty complicated. Misinformation and complex benefits formulas can easily lead one down an incorrect—and costly—path. If you take your Social Security benefits at face value, you could be leaving tens of thousands of dollars on the table. While Social Security can form the bedrock of your retirement income plan, how and when to claim them can be tricky, and could mean the difference between having the retirement lifestyle you desire or having to settle for something less.
There are some enormous financial benefits to Social Security. It is the only retirement income that:
Is Reviewed Annually for Inflation
Is Tax-Advantaged; At Worst, It’s Only 85% Taxable
Will Continue to Pay as Long as You Live