The 1 Social Security Trap You Can't Afford to Fall Into
Despite the fact that millions of seniors rely on Social Security heavily in retirement, there's a lot of misinformation about the program. And sometimes, all it takes is a single misunderstanding to wind up with a lot less money in benefits than you may have anticipated. Such could be your reality if you wind up falling victim to this avoidable trap.
Your monthly Social Security benefit is based on your wage history -- specifically, the amount you earn during your 35 most profitable years in the labor force. You're then entitled to that benefit in its entirety once you reach full retirement age, or FRA.
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Source Fool.com
