Many Americans Don’t Understand Social Security
To get the most out of your Social Security benefits, it is very important to understand how the system works before you start to receive benefits. An alarming number of Americans do not understand how Social Security works.
The idea of Social Security seems simple enough: Americans pay into the system throughout their lives as they work. When they retire, they are then paid benefits determined by their income while they were working. However, it’s not quite that simple in reality.
Do You Know How To Get The Most Out of Your Social Security Benefits?
The American Social Security system is complex, with all sorts of different rules people can take advantage of in order to get the most out of it. In the article “Nearly Half of Americans Still Don’t Understand Social Security” published by Financial Advisor in 2018, it was revealed that in a survey given to respondents over the age of 50, 47% of them were unable to correctly answer a series of true or false questions about Social Security benefits. This lack of knowledge is a potential problem for many Americans because it means that they might not get what they need out of the system when they retire.
The Social Security Administration is supposed to assist people to understand their benefits. However, they are not allowed to provide advice to people and can only tell them what their options are when asked.
Visit an Elder Law Attorney for Social Security Information
A great way to learn how to get the most out of your Social Security benefits is to visit an elder law attorney. The attorneys at Oregon Estate & Elder Law can help you understand how to get the most out of your benefits every month and how to weigh that against getting the maximum amount of total benefits in your lifetime. Call today for experienced, empathetic advice from experienced elder law attorneys in Salem, Oregon.