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Social Security: 3 common mistakes to avoid

Millions of Americans collect Social Security every month once they retire, but it’s easy to overlook certain things.

social security card with checks for social security payments

This can cause you to end up with less money than you should.

Taking the time to educate yourself on Social Security benefits and your own situation can help you avoid costly mistakes.


Here are three mistakes made by people claiming Social Security

The first mistake is getting your full retirement age wrong.

It’s easy to get confused because Medicare kicks in at age 65, which is when people assume Social Security starts as well.

Despite the age being 65 for Medicare, it’s actually 66 or 67 depending on the year you were born.

Choosing to retire before this point could cost you.


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There’s also the risk of waiting too long to claim benefits.

Many know that waiting past the point of full retirement age can earn you more money, but it caps off at age 70.

If you’re unaware of this, you may continue to push your claim off and miss out on benefits you’re otherwise entitled to.


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Finally, the last mistake people make is delaying their spousal benefits.

You can not delay spousal benefits the way you can regular retirement benefits.

That means if your spouse has already claimed, you should claim as well and not miss out on benefits you would be getting regardless.

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