3 Social Security Moves That Could Cost You a Fortune
Social Security benefits can make up a sizable portion of income for many older adults, so it pays to ensure you're making the most of them. While everyone's retirement strategy will be slightly different, there are a few ways you could be missing out on Social Security. These three mistakes are more common than you might think and could potentially be costly.
Your full retirement age (FRA) is the age at which you'll receive the full benefit amount you're entitled to, based on your work history. Your exact FRA will depend on the year in which you were born, but everyone's will fall between ages 66 and 67.
If you're unsure of your FRA, you're not alone. In fact, only 13% of U.S. adults could correctly name their FRA in a 2022 survey from the Nationwide Retirement Institute.
Source Fool.com
