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Five Social Security "Secrets"

Here are five Social Security "secrets" according to Motley Fool :

1. Your benefits increase each month you wait

2. Your benefits are taxable (at higher income levels)

3. You may be able to claim benefits based on ex-spouse's work history

4. You may be able to claim benefits despite no work history (ex. spousal, surviving child)

5. Social Security is not going "bankrupt" (but benefits may be cut)


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Seven Social Security Myths

1. Social Security will cover my income needs

2. It's better to take Social Security benefits early

3. I'll receive full benefits at 65

4. Once I start benefits, I can’t work anymore

5. I won't pay taxes on Social Security

6. Once I start Social Security, I have to continue receiving it

7. My divorce will reduce my benefits

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Not affiliated with the US Social Security Administration