Top 5 Mistakes People Make When Claiming Social Security

Your Social Security decision can shape your retirement income. Here are 5 common mistakes — and how to fix them.

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Mistake #1: Claiming Too Early

[{"selector":"#anim-348c66c1-ff6d-4ec8-bd10-380a370c69e2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Many claim at 62 and lose up to 30% of benefits for life. Waiting until full retirement age can boost your monthly income. Learn more

Mistake #2: Ignoring Spousal Benefits

[{"selector":"#anim-6772885e-90eb-4731-bf88-a2386986f6a9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.24033493771347%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Married? You may be eligible for benefits based on your spouse’s record. Don’t miss out on extra income that’s rightfully yours! Learn more

Mistake #3: Forgetting About Taxes

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Mistake #4: Working Without Knowing the Rules

[{"selector":"#anim-5bff5e55-5fe7-453b-a134-583b84d34d93 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-9.239130187447225%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] If you earn above certain limits before full retirement age, your benefits could be temporarily reduced. Learn more

Mistake #5: Not Coordinating with Other Income

[{"selector":"#anim-7b4731ea-e63f-44d5-a6be-dffdf7050543 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.833582952531623%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Social Security should work with your 401(k), IRA, or pension. A CPA can help align your income sources for maximum gain. Learn more

Smart Tip

[{"selector":"#anim-0931bab0-7623-4685-983f-25921571767d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Plan before you claim! Delaying benefits until 67 or 70 could mean thousands more over your lifetime. Learn more

Why It Matters

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Don’t risk losing your benefits!

Talk to a CPA before you claim. Plan today. Relax tomorrow. Learn more