3 Social Security Mistakes That Happen All the Time
Social Security serves as a lifeline for millions of seniors. But a single mistake on the road to claiming benefits could reduce that crucial income stream for life. Here are three common Social Security blunders you should make every effort to avoid.
Your Social Security benefits are based on your lifetime earnings -- specifically, your average wages, adjusted for inflation, during your 35 highest-paid years on the job. But you're not entitled to your full monthly benefit until you reach what's known as full retirement age, or FRA.
FRA is a function of your year of birth, and you can consult this table to see when yours is:
Source Fool.com