According to this article, there are a few things that many Americans are not aware about Social Security. These four things include:
- Eligibility: The eligibility age for full benefits varies. This age, known as the full retirement age, continues to be adjusted.
- Payments: Many individuals are not sure how much their Social Security benefits will be.
- Spousal/Child Benefits: At least 30% of individuals don’t realize Social Security could offer benefits to children and spouses.
- Adjustments: Many individuals think that, when claimed early, their benefit payments will increase automatically once they reach full retirement age. However, this is not necessarily true.
There are many confusions surrounding Social Security. However, one thing is certain, Social Security must do more to help senior citizens nationwide. Find out how we are working to change Social Security to give seniors more financial security.