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3 Common Misconceptions About Social Security

I can receive two benefits simultaneously: a spousal benefit and one based on my own work record.

This is NOT TRUE. If you are eligible for both, you would receive the benefit that is the highest. However, if you were born on or before January 1, 1954, you can claim a restricted application for spousal benefit once you reach full retirement age and later switch to a benefit based on your own work record if it would be higher (up to age 70).

The benefits I receive will exceed the payroll taxes I paid over my career

This may or may not be true. For many retireees, the amount they paid into the system over the years might exceed the benefits they will receive. Longevity plays a major role. Someone who dies early won't receive benefits that exceed payroll taxes paid. And, on average, married couples may benefit more than single people

Social Security is Going Bankrupt

This is NOT TRUE. Payroll taxes collected from workers are used to fund payments for current retirees, so there are always tax revenues going into the system. However, there are serious challenges facing the program

Want more information about this? Consider attending one of our seminars or Contact Andrea Donnelly to arrange a convenient time to get together with Diane.
Call: 978-675-9936 or email:
andrea@bgfinancialgrp.com




Social Security Workshop at BG

Flier Graphic: Learn sound income-enhancing strategies that may help you: 
      • Determine the best age to claim social security benefits
      • Coordinate benefits to maximize spousal and survivor benefits
      • Make informed retirement plan distribution decisions
   
   COMPLIMENTARY EDUCATIONAL WORKSHOP
      February 27th 2019, 5:30 pm
BankGloucester, 160 Main St., Gloucester MA 01930
Light refreshments will be served.
Photo of Diane K. Rule
Your Presenter 
Diane K. Rule
Vice President, Financial Services
BankGloucester Financial Services
Limited seats available, reserve your place now…
Contact Andrea Donnelly: 978-675-9936
Email: andrea@bgfinancialgrp.com 
or register through our website at: bgfinancialgrp.com/events
Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through BankGloucester Financial Services. BankGloucester, BankGloucester Financial Services and Securities America are separate entities.
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Not a Bank Deposit         Not Insured by Any Federal Government Agency Register Here or Call: 978-675-9936 or email: andrea@bgfinancialgrp.com




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Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through Bank Gloucester Financial Services. BankGloucester, BankGloucester Financial Services and Securities America are separate entities.
Not FDIC Insured, 
          No Bank Guarantee, May Lose Value, Not a Bank Deposit, Not Insured 
          by Any Federal Government Agency
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