The Most Important Retirement Income Source Most People Get Wrong

The Most Important Retirement Income Source Most People Get Wrong

- in Income, Retirement
2112
Comments Off on The Most Important Retirement Income Source Most People Get Wrong
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

You may also like

What you need to know about long-term care

Understanding Long-Term Care Options and Costs for Seniors