Social Security: An Overview
For three years I’ve been creating this overview of Social Security. It took that long for it to reach the level of thoroughness I feel justifies its title; most articles you come across dealing with Social Security will address when and how you should begin collecting benefits – for instance:
“When Should You Begin Claim Social Security Benefits?”
“Why It Is Important to Receive Social Security As Early As Possible”.
“The Return on Investing of Waiting Until Age 67 or 70 to Claim Social Security”.
At some point in their lives, these topics will become crucial – yet given this blog’s reader demographic, hopefully not yet. If they become of concern to you, perhaps it would be best to disengage from these topics for now; there’s little I can offer as I don’t care much myself yet about optimizing Social Security strategies at age 50! (If I’m still writing by then though ;-). 😉
Today I want to present something different: an overview of everything those under age 62 need to know about Society Security.
And yes, everyone should know some essential facts about Social Security that have nothing to do with age or claim optimization. Indeed, all age/claim optimization relies upon these things, yet nobody speaks about them! Maybe because any mention of Social Security tends to put people off or put off those closer than the typical retirement age from considering its benefits.
Misinformation and scare stories regarding Social Security has caused widespread distrust of it among the generations X, Y (millennials), and Z; 25% from Gen X; 39% (millennials); and 45% (Gen Z). Not expecting anything from Social Security is unrealistic – you won’t ever receive one dime of assistance!
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