The Most Important Retirement Income Source Most People Get Wrong

The Most Important Retirement Income Source Most People Get Wrong

- in Income, Retirement
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Image Via Time.com/money

Social Security has never been more important—or more difficult to get right.

Social Security benefits are more complicated than most pre-retirees understand, and the confusion results in millions of people failing to maximize this bedrock source of retirement income, new research shows.

Social Security payments go to 88% of Americans aged 65 or older and the benefit keeps 33% of this population out of poverty, according to a report from AARP and the Financial Planning Association. Yet, says Jeannine English, president of AARP, “most people don’t understand the importance of when they claim.”

Read more at Time.com

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