When it comes time to claim Social Security, you need to make sure you have a well-thought-out strategy for when you turn on that income. It’s not a decision that should happen independent of other financial considerations nor is it a decision that’s always easy to understand.
We’ll be debunking common myths about Social Security and answering the questions you might be curious about. Since we have a list of 10 to break down, we’ll divide it up into two episodes so make sure you check out both.
In part two, we’ll focus on who is eligible for Social Security benefits, how they get calculated, and how working will affect your benefit.
Here are the myths we’ll discuss today:
- You can’t work and receive Social Security benefits at the same time. (1:30)
- Social Security benefits are only available for US citizens. (4:35)
- If you have a pension, you aren’t eligible for Social Security benefits. (6:11)
- Social Security benefits are based on your income and assets. (7:36)
- Social Security benefits are based on your last job’s salary. (8:50)
We hope you enjoy the show!