3 Ways You Can Lose Your Social Security Benefits
Millions of seniors today regard Social Security as a critical source of income. But if you're not careful, you could wind up losing out on some of that money and struggling during retirement as a result. Here are a few ways your benefits might shrink.
Your Social Security benefits are calculated by taking your 35 highest-paid years of wages, adjusting them for inflation, and then applying a special formula to arrive at the amount of money you're entitled to collect each month during retirement. But you can only claim your full 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
