The Surprising Mistake That Could Cause You to Lose Out on Social Security Benefits
Millions of seniors today rely on Social Security to pay the bills, which is why it's important to file for benefits strategically. In fact, recipients are often advised not to claim Social Security ahead of full retirement age to avoid reducing their benefits. Not only that, but workers are encouraged to check their annual earnings statements from the Social Security Administration to ensure that they're accurate, since mistakes can result in a reduction in benefits as well.
But here's one lesser-known way you might reduce your benefits on a temporary basis: fail to keep up with your financial obligations. Depending on the nature of your debt, you could find yourself in the dreaded scenario of having some of your Social Security income garnished.
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Source Fool.com
