3 Social Security Mistakes That Could Cost You a Fortune
Social Security plays a vital role in keeping millions of seniors afloat financially. If you want to make the most of the benefits you're entitled to, then it's crucial that you avoid these major mistakes.
Your monthly Social Security benefit is calculated by taking your average monthly wage over your 35 highest-paid years in the workforce, adjusting it for inflation, and applying a special formula to that number. You're then entitled to claim that monthly benefit once you reach full retirement age, or FRA. Here's what FRA looks like, depending on when you were born:
Year of Birth
Source Fool.com