Five Social Security Myths To Know And Avoid

Posted by

John Kuhnlein

August 22, 2023

A recent CNBC post discusses five common myths about Social Security retirement claiming and the truths behind them.

Myth 1: Claiming early to get the most benefits before Social Security runs out of money. Truth: Waiting to claim will result in higher benefits and more income security.

Myth 2: Using the break-even age to decide when to claim. Truth: The break-even age does not account for other factors such as longevity risk, spousal benefits, or taxes.

Myth 3: Claiming early to get the benefit of a high cost-of-living adjustment. Truth: Cost-of-living adjustments are applied to projected benefits regardless of when you claim.

Myth 4: Social Security benefits are not taxed. Truth: Depending on your income, up to 85% of your benefits may be subject to federal income tax.

Myth 5: Following what others did or relying on Social Security offices for advice. Truth: The best-claiming strategy depends on your personal circumstances and goals, and you may need professional guidance to find it.

Read the full article here.

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About The Author

Since 1992, I have been helping the people of Southern Arizona get the benefits they are due. Before devoting all my efforts to assisting people with Social Security disability claims, I also handled such complex lawsuits as medical malpractice and products liability. I brought to my Social Security cases all the skills and attention to detail that I developed in the courtroom. I approach each Social Security disability case as if it were a million-dollar lawsuit. For the people trying to get Social Security benefits, their claim is every bit as important. Because I have personally handled so many Social Security cases, I have refined the skills I need to win your case for you. I have helped people win cases for every kind of ailment from arthritis to valley fever. At present, I am focused on helping those persons with neurological and orthopedic disorders. Because claims for people over age fifty bring additional complications, I particularly seek out those cases to work on. I regularly write about back and spine conditions on my blog. I actively seek out the latest information about orthopedic and neurological disorders to ensure I can represent my clients as effectively as possible. Because of my current focus, I regret that I am not able to take any cases for mental disorders. If you are over age fifty and suffer from any orthopedic or neurological disorder, please contact me at once.