Because the Social Security benefits system is more complicated than you would imagine, there’s a good possibility you’ll make mistakes that reduce the amount of money you get from your retirement payments.
There are three major mistakes you could be making right now that could lead to major financial troubles later on.
Failure To Keep Records
The Social Security Administration modifies salaries earned over time to account for salary growth before calculating your average monthly wage based on data from the 35 years when you earned the most. Your benefits are then calculated as a percentage of your typical monthly earnings.