Around a third of Americans expect that Social Security will be a major source of retirement income. And they're right. Since Americans have saved far too little for retirement, a majority of retirees depend on Social Security to provide at least half their household income.Here's the problem. Not only is Social Security not designed to replace so much of your pre-retirement income, but many people end up making their Social Security benefits smaller than they should be.
Search for These 3 Things Will Make Your Social Security Benefit Smaller on Bing
newsfeedback@fool.com (Christy Bieber), The Motley Fool
Sun, 05/20/2018 - 4:02am
BING NEWS:
- Social Security: Full List of Republicans Who Voted for Major Change
Senator Rand Paul pushed to gradually raise the retirement age for the benefits to 70, but the proposal failed.
12/22/2024 - 8:02 am | View Link - Here's the Average Social Security Benefit at Ages 62, 67, and 70
Every year, the SSA's Office of the Actuary releases a breakdown detailing the average monthly benefit of retired-worker beneficiaries between ages 62 and 99-plus. Keep in mind this data is based on the age of retired workers, as of December 2023, and isn't necessarily indicative of the age they began collecting their benefit, except for age 62.
12/21/2024 - 7:44 pm | View Link - More
- Social Security in retirement | SSA
The Social Security Retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether. It may not replace all your income so it's best to identify other ways to pay for your monthly expenses as you age.
12/24/2024 - 9:13 am | View Website - Benefit types | SSA
Find out which Social Security benefits can help you based on your circumstances. If you already get benefits, visit our Manage benefits page to learn how to make changes, download documents, and complete other tasks.
12/24/2024 - 7:04 am | View Website - Apply for Social Security Benefits | SSA
An official website of the Social Security Administration. Produced and published at taxpayer expense.
12/24/2024 - 3:58 am | View Website - Benefits Planner: Retirement | Retirement Age and Benefit Reduction
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
12/24/2024 - 2:03 am | View Website - Retirement Benefits | SSA
Visit Social Security’s retirement benefits section of the website to help better understand the program, the application process, and the online tools and resources available.
12/24/2024 - 1:20 am | View Website - More
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