“Social Security: Maximize Your Benefits” Excerpt

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What can Reduce Your Social Security Benefit?

Individuals can download their personal Social Security Statements from the Internet at www.ssa.gov/mystatement/. The estimated amount of benefits listed on the statement may be overstated if you have a pension from employment that did not pay Social Security taxes. However, if you receive a pension from an organization where you paid Social Security taxes your social security benefit will not be reduced.

If you worked for a place where you did not pay Social Security taxes (such as a school district, police or fire department, local, state or federal government agency) you may be entitled to a civil service pension. You may also be entitled to a spousal or widow(er) s Social Security benefit based on your spouse’s work record. If you are due a spousal or survivor’s benefit you may lose a portion of your Social Security benefit due to your government pension.

CAUTION: This reduction is not listed on your Social Security statement and can be potentially harmful to your financial health.

About ksindell

Kathleen Sindell, Ph.D. is the author of numerous academic, popular, and professional finance articles, Web sites, proposals, and books. This includes the bestselling reference book, "Investing Online for Dummies, Eds 1-5" (listed for two consecutive years on the Wall Street Journal's Bestselling Business Book List). Her most recent book "Social Security: Maximize your Benefits" has been listed in Amazon's Top 100 Bestselling Retirement Planning Books. It is important to note that "Social Security: Maximize Your Benefits, 2nd Edition" was just released. Sindell has an in-depth understanding of the financial services industry and has held Series 7, 63, and 65 licenses. Dr. Sindell is regularly tapped as a financial services expert on ABC World News, The Nightly Business Report, and at popular online and print outlets. Kathleen Sindell, Ph.D. is a member of the Board of Directors for the Financial Planning Association, National Capital Area (FPA NCA), is on the Editorial Advisory Panel of the Journal of Financial Planning, and is Co-Chair of the Metro Washington Financial Planning Day. Sindell is a Course Chair II, CFP Program Academic Officer, and adjunct full-professor at the University of Maryland, UMUC, School of Undergraduate Studies. Contact Information: ksindell@kathleensindell.com or 703-299-1700
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