Save $110,000 in Social Security Benefits by Avoiding these 3 Retirement Mistakes

According to Forbes, 96% of retirees start claiming their Social Security benefits at the wrong time

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Let us see three common mistakes that may cost you thousands of dollars.

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Applying Universal rule to claim your social security benefits

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There is no Universal rule to claim your social security benefits, it complete unique to each person

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The earliest age to claim your social security benefits

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As long as you delay, you could get bigger check

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The full retirement age according to SSA is between

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The retirement decision depends on a lot of factors

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Ignoring the impact of Social Security Benefits

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Most people focus only on bigger checks.

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These bigger checks could trigger more taxes and increase Medicare premiums.

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So don't decide your retirement only based on bigger checks.

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Find the right strategy with the help of experts to eliminate these additional taxes

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Relying on the Social Security Administration to make retirement decisions

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Don't rely on the Social Security Administration to make your own retirement decisions

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Social Security Administration Professionals are not supposed to advise you on filing your benefits.

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They will not tell you how your decision could impact your taxes, Medicare premiums and other benefits.

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So it's better to discuss with a financial advisor to make the right decision with respect to your unique situation.

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So avoid these mistakes in retirement decision and save thousands of dollars

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Save $110,000 in Social Security Benefits by Avoiding these 3 Retirement Mistakes

According to Forbes, 96% of retirees start claiming their Social Security benefits at the wrong time

wrong time

Let us see three common mistakes that may cost you thousands of dollars.

Mistakes

3

Applying Universal rule to claim your social security benefits

mistake 1

There is no Universal rule to claim your social security benefits, it complete unique to each person

no universal rule

The earliest age to claim your social security benefits

earliest age

62

As long as you delay, you could get bigger check

Waiting till full retirement age can help you to get maximum benefits.

perception

The full retirement age according to SSA is between

full retirement age

66 to 67

The retirement decision depends on a lot of factors

For some people, it's better to wait and for others, it's better not to delay.

actual fact

Ignoring the impact of Social Security Benefits

mistake 2

Most people focus only on bigger checks.

change the focus

These bigger checks could trigger more taxes and increase Medicare premiums.

impact

So don't decide your retirement only based on bigger checks.

Decision

Find the right strategy with the help of experts to eliminate these additional taxes

experts

Relying on the Social Security Administration to make retirement decisions

mistake 3

Don't rely on the Social Security Administration to make your own retirement decisions

fact

Social Security Administration Professionals are not supposed to advise you on filing your benefits.

norms

They will not tell you how your decision could impact your taxes, Medicare premiums and other benefits.

impact analysis

So it's better to discuss with a financial advisor to make the right decision with respect to your unique situation.

fact

So avoid these mistakes in retirement decision and save thousands of dollars

conclusion

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