Almost everybody pays into Social Security. But do you really know how the system works, what benefits you are eligible for, and when and how you should access them?
Just recently, an audit revealed that the Social Security Administration has been underpaying thousands of widows and widowers. Why? Because they weren't aware of special income options for which they qualified. Another common issue known to impact benefits is applying for Social Security before you reach full retirement age. Do this, and not only will your benefits be lowered over your lifetime, but any wages you earn above a certain dollar limit can reduce your benefits even further. (Yikes!)
Social Security has many advantages, as well as a broad range of benefits. But they have to be accessed at the right time and in the right way—otherwise you could experience lost or reduced benefits over your lifetime. In our May Smart Women/Savvy Money webinar, René Nourse will discuss Social Security benefits, their requirements, and some filing strategies to help you maximize your income.