One of the Biggest Social Security Mistake You Can Make

July 18, 2018

I have long been an advocate for checking your earnings records, but today I read on CNN Money that this is one of the biggest mistake a person can make.

Not checking your earnings record

The Social Security Administration, or SSA, keeps track of your Social Security taxable earnings every year, and you can take a look at your earnings record on your latest Social Security statement. (Note: Your Social Security statement is available on www.ssa.gov by creating a “my Social Security” account, if you haven’t already.)

Because your benefit will be based on the earnings data on your Social Security statement, it’s extremely important to make sure the information on the statement is accurate.

Errors in Social Security earnings records aren’t widespread, but they are more common than you may think. For example, in the 2012 tax year, the SSA said that $71 billion in wages couldn’t be matched to any earnings records, and that only about half of these mismatches were eventually corrected.

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