Social Security: Common mistakes to avoid

When filing for Social Security, people often make mistakes.

Social Security benefits application

These mistakes can result in penalties or less money than expected.


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What are the most common mistakes?

One of the most common mistakes when filing for Social Security is not knowing your full retirement age (FRA). Medicare starts at 65 so that is when some people assume Social Security starts then too. However, that isn’t always the case. Find more details here.

Depending on the year you were born, your FRA is either 66 or 67. If you decide to retire before reaching FRA, it will reduce your benefit.

However, waiting too long to start claiming Social Security could also mean missing out on benefits you are entitled to.

There is an age cap of 70. That means you may sacrifice certain benefits without even knowing.

Another common mistake is delaying spousal benefits. If your spouse has already claimed you should start at the same time. This way you can ensure getting the benefits you are entitled to.


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