Avoiding Costly Mistakes: A Guide to Navigating Social Security Administration

A new book highlights common mistakes made by the Social Security Administration (SSA) that could cost beneficiaries. One common mistake is retirees claiming benefits at the minimum retirement age of 62, which can reduce monthly checks by up to 30%. Waiting until the full retirement age of 67 or even age 70 can result in higher payments. Overpayment is another issue, affecting over a million Americans annually. Keeping detailed records of interactions with the SSA can help avoid overpayment problems. The earnings test can also impact benefits, with workers losing $1 for every $2 earned above the threshold. However, benefits can be restored once full retirement age is reached. Lastly, widowed individuals receiving survivor's benefits may have to give back payments if they become eligible for their own SSA payments.