But to get the most out of Social Security, and to make sure it works for you, make sure you don’t make these seven common mistakes, as reported recently by Money-Rates.com.
First, don’t wait past the age of 66 to file.
Second, don’t wait past the age of 70 to start collecting.
Third, don’t forget to include your spouse as a recipient if he or she is also eligible.
Fourth, don’t forget former spouses, either. As reported by the media outlet, if you have been married for at least 10 years and divorced for at least two years, you may be able to claim their benefits as well.
Fifth, don’t assume that you and your spouse need to file for Social Security benefits at the same time, especially if one partner is eligible for higher benefits than the other.
Sixth, if you have health problems, don’t wait indefinitely to file. It may be better to file earlier rather than later if you are in this situation.
Seventh, if you decide to defer your benefits and wait for a lump sum payment, don’t forget to apply for it. If you forget, your loved ones may not receive the money.
All seniors, whether they live at home or in assisted living communities, can take advantage of these simple tips to make sure Social Security works as well for them as it can.