Lesser Known Social Security Facts

Social Security is a big part of what we discuss with clients on a daily basis because the majority of us will rely on this retirement benefit for income after we’ve stopped working. Despite its importance to planning, there’s a lot that the average person doesn’t know about Social Security.

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Social Security is a big part of what we discuss with clients on a daily basis because the majority of us will rely on this retirement benefit for income after we’ve stopped working. Despite its importance to planning, there’s a lot that the average person doesn’t know about Social Security.

Let’s explore some of these lesser know facts like spousal benefits, work credits, and that Social Security can actually be garnished by the government. Knowing the ins and outs will help you get the most of your benefits, which what our goal should be after paying into the program throughout our lives.

Here’s some of what you’ll learn in this episode:

  • What are work credits and how many do you need?
  • Some of the rules surrounding spousal benefits and who might benefit.
  • The conditions for claiming benefits from your ex-spouse.
  • What is the earnings test and how does it tie into your benefits?
  • Your Social Security benefits can actually be garnished by the federal government.

Thanks for listening! We’ll be back for another show every other Thursday.

 

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