5 Social Security Myths to Know Before Filing

In This Video:

Before you can make the best decision about when to claim your Social Security benefits, you need to be aware of these five myths and why they aren’t always accurate.

Things to Consider:

Let’s talk about the 5 Social Security myths you need to know before filing for your benefit.

And let’s be direct here. Deciding when to take Social Security is a big deal. Knowing which age is best for you could have a big impact on retirement. Social Security will make up a big chunk of the income most Americans will rely on in retirement in order to maintain their lifestyle and spend the way they want.

Once you make that decision, you won’t be able to change it (for the most part) so you want to get it right the first time. In order to do that, it’s important that you aren’t making a decision based on some of the myths that are out there. In this video, Scott will highlight five of them and explain why they aren’t completely accurate.

Here’s what we cover in this financial video:

0:00 Intro

1:09Myth 1: The Social Security Administration will help you make the best decision.

3:00 Myth 2: You won’t get any Social Security if you have little to no wage income.

4:35 Myth 3: You won’t pay taxes on your Social Security.

6:31 – Myth 4: If you have a pension, you won’t be eligible for Social Security benefits.

8:45 – Myth 5: You can’t work and receive Social Security benefits at the same time.

 

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