Navigating Social Security can be complicated. You want to take benefits at the right time and to get the most out of your benefits. Additionally, for many hard-working American seniors, these benefits are an important lifeline. And it’s important to remember that you’ve earned these benefits—you deserve every dollar of what you’ve put into the program. That’s why avoiding some common Social Security errors is crucial as we look to 2022.
Common Social Security Errors
According to a recent article by Forbes titled “5 Biggest Social Security Mistakes To Avoid In 2021,” there are a number of ways that some seniors miss out on higher benefits. These mistakes include:
Filing Too Early
If you claim Social Security before full retirement age, your lifetime benefits could decrease.
Working After You Claim Benefits
You might also see a reduction in your benefits if you continue to work after claiming them. However, if you make less than $18,960 a year, at least for 2021, you won’t see any reductions.
Not Taking Survivor Benefits Into Account
If your spouse passes away, you’ll likely be eligible for survivor benefits. You can also take survivor benefits without claiming your own, which can help you avoid decreases in your benefits from claiming early.
Changes in Marital Status
If you qualify for spousal benefits, getting divorced and remarrying can also hurt your benefits. You’ll give up the benefits from your previous marriage.
Forgetting About Taxes
Did you know that the government can also tax your benefits? If you have other retirement income, you might have to pay taxes on your Social Security benefits.
How NORA’s Fighting for Seniors
Don’t make these Social Security errors. Instead, stay informed about changes to Social Security and other issues impacting seniors by connecting with NORA on Twitter and Facebook.
We’re advocating for American seniors by asking Congress to pass The Guaranteed 3% COLA for Seniors Act which will guarantee beneficiaries a fair 3 percent COLA every year. Learn more about this piece of legislation, then sign our online petition today!
