Olde Hornet
Well-Known Member
http://finance.yahoo.com/news/10-social-security-mistakes-avoid-154134487.html
How claiming decisions lead to lower payments
Your Social Security claiming decision can dramatically affect the benefit payment you will receive in retirement. If you sign up too soon or don't work long enough, your Social Security payment is reduced. Here's how you may be decreasing your retirement payout:
Not working for 35 years
The 35 years in which you earn the most are used to calculate your Social Security benefit. If you don't work for at least 35 years, zeros are averaged into your benefit amount and result in lower payments.
How claiming decisions lead to lower payments
Your Social Security claiming decision can dramatically affect the benefit payment you will receive in retirement. If you sign up too soon or don't work long enough, your Social Security payment is reduced. Here's how you may be decreasing your retirement payout:
Not working for 35 years
The 35 years in which you earn the most are used to calculate your Social Security benefit. If you don't work for at least 35 years, zeros are averaged into your benefit amount and result in lower payments.