Ill-Informed Decisions About Social Security Benefits Can Be Costly

Apr 27, 2018

Social Security seems like a simple program: You pay in during your working life, you receive benefits when you retire. In reality, it is anything but simple. Social Security is maddeningly complex when it comes to figuring out the best strategy for claiming benefits. It grows even murkier if a claimant is eligible for more than one type of benefit.

Unfortunately, the Social Security Administration (SSA) can’t be relied on to identify and explain the best approach for claiming benefits. Case in point: A recent audit (PDF) by the SSA’s Office of Inspector General found that in 82 percent of the cases studied, Social Security failed to inform people who were eligible for both retirement benefits and survivor benefits about their options.

End of preview. Please subscribe to read more.

Already a subscriber? Log in here.

Continue reading plus get access to our
objective, time-tested investing strategies.

Get access to Sound Mind Investing’s articles and investing
strategies RISK FREE for 60 days

See subscription options

Not Quite Ready to Become a Member? No Problem, We Still Have Something for You!

Watch our FREE 20-minute video workshop
and learn how to secure profits and achieve
peace of mind, even amidst market volatility.

What You'll Learn:

1
Strategies to Expand Your Portfolio: Learn effective ways to grow your investments while minimizing risk during market downturns.
2
Introducing a Dependable Investment System: Get acquainted with a proven, step-by-step investing approach that has delivered solid returns for thousands of our members.
3
Mastering Market Cycles: Understand why navigating bear markets is crucial for long-term success, and how to do it effectively.

Start securing your future today.
This free workshop is the perfect place to start.

Written by

Joseph Slife

Joseph Slife

Joseph Slife has been a news writer for the Associated Press, a college instructor, and a radio host. He and his wife Joye have three grown sons.

Revolutionize Your Investing Approach

Unlock Your Wealth-Building Potential with Sound Mind Investing

Don't leave your investments to chance. Let Sound Mind Investing guide you to financial success. Experience the power of our simple, rules-based strategies and see your wealth grow.

Unlock Your Wealth Potential Risk Free Today!