7 Social Security Mistakes That Could Cost You a Fortune

mistakes
Photo by fizkes from Shutterstock

Not accounting for dependent benefits

You might still have dependent children when you decide to claim your Social Security retirement benefits, and they might be eligible to receive those benefits, too.

An eligible child is able to receive as much as 50% of your full retirement benefit amount every month, as the Social Security Administration has claimed.

Your family can receive that amount of money, besides your own amount.

Payments to your dependents have nothing to do with your benefit, even if there is a limit to how much the entire family might receive in monthly benefits. In this case, understanding the benefits that your children might get will help you maximize the entire family benefit amount.

If you enjoyed reading this article, you might also want to try: 5 Master Tips for Surviving Divorce in Retirement

«1 ... 67 8

SHARE:

1 thought on “7 Social Security Mistakes That Could Cost You a Fortune”

  1. Cash is king always try to pay for something in person with that there will be no discrepancy about whether the funds are available or not.

Leave a Comment

Your email address will not be published. Required fields are marked *

Recommended For You