For most Americans, Social Security makes up the biggest piece of their retirement savings plan. In fact, for typical American households, the lifetime value of their Social Security benefits will dwarf the equity in their homes and their retirement account balances. That’s why it’s so important that you do everything you can to make sure you are maximizing your Social Security benefits. A certified financial planner and Forbes reporter, David Rae, came up with a list of five biggest blunders people make when it comes to getting the most they can from Social Security – and he explains how to avoid these common mistakes.
While these strategies can certainly help, the fact is that Social Security as it stands now is simply not sufficient. America’s retirees need and deserve more. The Seniors Trust wants lawmakers to pass the Social Security Expansion Act. This landmark piece of legislation will increase monthly Social Security benefits, establish a better annual cost-of-living adjustment formula, and strengthen the long-term solvency of the Social Security program. Together, all of these things will ensure that retirees can live stress-free without the financial struggles so many are facing today. Please, join our efforts by signing The Seniors Trust’s petition to Congress.