This Social Security Mistake Could Leave You Dangerously Cash-Strapped

You'll probably rely on your Social Security benefits to pay the bills in retirement. In fact, those benefits may even be your sole source of income. That's why understanding when you're allowed to claim benefits and filing for them at the right time matter.

You're entitled to your full monthly Social Security benefit, which is based on your earnings history, once you reach full retirement age. But shockingly, 76% of Americans don't know what their FRA is, according to a Nationwide survey. Failing to learn your FRA could leave you with a permanently reduced benefit and many years of financial struggles to follow.

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Source Fool.com