When Should You Apply for Social Security Benefits?
Mistakes can be costly – and may be permanent!
Mistakes can be costly – and may be permanent!
The annual Social Security trustees’ report is to advise Congress on the financial condition of the Social Security system over the next 75 years. If they project that 100% of benefits will be paid, it’s said to be in balance and no action will be needed. If they project a shortfall, they call on Congress to fix the problem by either raising taxes, cutting benefits, or some combination of the two.
Have you checked your Social Security statement on the SSA’s website? You should; there’s a lot of good information there!
If you’re a baby boomer, you may want to begin your Social Security planning early – and it’s especially true when it comes to claiming Social Security! Today it’s different from when your parents filed their claims: they just went down to the Social Security office and put in the paperwork! Today, it’s far more complicated.
Social Security claiming mistakes can result in more than just lost income; you might end-up paying thousands in extra taxes later!
The SECURE Act 2.0 may do a lot to help secure Uncle Sam, but I’m not so sure about the rest of us.
No, we’re not training your dog. But, if you’re nearing retirement, you know exactly what a rollover is – and you know it’s a big decision.