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Dramatically More Americans Plan To Delay Social Security Retirement Benefits

According to May, 2017 survey, only 28 percent of 61-year-old respondents said they would receive Social Security retirement benefits as soon as possible (age 62).

This is a big decline from 2008, when 45 percent of 61-year-olds said they would file as soon as possible.

There are probably two reasons for this.

One, in 2008, many seniors could not find worthwhile employment, so getting Social Security was perhaps the only option.

Second, since 2008, interest rates (returns on bond investments) have dropped dramatically, while the increase in Social Security payments gained from delay benefit initiation has stayed constant. In other words, delaying pays much better than receiving and investing benefits.

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Do Not Click on Links in Emails from "Equifax"

If you receive an email from "Equifax", be very careful about clicking any links in the email. It could be a phishing attack.

As a result of the recent Equifax leak of 143 million Social Security numbers, criminals see the leak as an excuse to tempt people into clicking on "helpful" links from Equifax.

Be very careful about clicking links in emails that you receive.

Equifax to Offer Free "Credit Freeze" Service After Security Breach

After the massive security leak of 143 million Social Security numbers at credit reporting agency Equifax, the company has announced that it will not charge for "credit freeze" requests for the next 30 days.

Here's where you can sign up for a credit freeze at the big three reporting agencies :

https://www.freeze.equifax.com/Freeze/jsp/SFF_PersonalIDInfo.jsp

Fast Facts About Social Security - 2017

Fast Facts About Social Security - 2017 Edition

* 66 million Americans receive Social Security benefits

* 5.5 million new Social Security beneficiaries in 2016

* 62 percent of aged beneficiaries received at least half their income from Social Security

* 54.2 is average age for Social Security disability beneficiaries

https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2017/fast_facts17.pdf

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Not affiliated with the US Social Security Administration