Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you’re eligible is the best decision for your financial future? In this episode, we’ll be debunking common myths about Social Security and answering the questions you’ve been curious about.
Unfortunately, there are a lot of Social Security myths out there. While many of these ideas stem from bits of truth, they have been misconstrued over time. Join us today as we set the record straight on these top ten myths so that you can make more informed decisions for your financial future.
Here’s what we’ll talk about in this episode:
- The Social Security Administration cannot help you make the best decision about when to start your benefit. [0:57]
- While it is income-based, you will most likely have to pay taxes on your Social Security. [3:35]
- Will Social Security run out of money? [4:57]
- Social Security benefits are not exclusively for U.S. citizens. [9:41]
- Social Security is not based on income and assets. [11:16]
If you have any questions about what we discussed in this episode, reach out and we’ll be happy to answer them.