Is your Social Security payment not as high as you thought it would be? This is the case for many people.

It’s also common throughout life. Most of us know what it’s like to come up short in some way. Sometimes we don’t quite reach our money-making aspirations. Other times we fall shy of the weight loss goals we set. While discouraging in some ways, missing the mark doesn’t have to stop us.

Especially with Social Security, it helps to know why your payment may be of a lesser amount than you anticipated.

Most Common Reasons Your Payment is Lower Than You Hoped

For retirees who are looking at a lower-than-expected Social Security benefit amount, they may wonder what is the reason behind the reduction.

One common cause is Medicare premiums. Since healthcare expenses can vary for retirees, just like the amount they paid in throughout their lives, this cost could cause their retirement benefits to be less.

While everyone may have medical needs later in life, some people may have also had personal debts prior to retirement. Creditor attachments are one of the most common reasons a Social Security payment can be reduced. Back taxes, defaulted student loans, alimony, and unpaid child support could all fall under this category.

Finally, the way you chose to take your benefits can impact the amount. Whether you took them too early, too late, or in a lump sum, the decisions you make will be reflected in the amount you see on your check. It’s another reason to plan your retirement carefully.

How Can You Raise Your Social Security Benefits?

While there are many factors that can lower your benefits in retirement, the opposite is also true. With the right approach, you can raise your payment as well.

NORA is dedicated to making fair yearly Cost-of-Living-Adjustments (COLAs) a reality for all retirees. You can learn more about our legal efforts here. Follow us on Facebook and Twitter for more Social Security content.