50+ years old

Employee Benefit Adviser

Richard Stolz

May 18

Got Social Security? A recent annual survey conducted by the Nationwide Retirement Institute of adults ages 50 and above found the following:
1. 57% of adults nearing retirement age believe they'll be eligible for benefits sooner than they actually will.
2. 3/4 of them incorrectly identified the age at which they're eligible for full benefits.
3. They overestimate, by an average of 30%, the amount of Social Security retirement annuity they will receive.
4. Due to unemployment, poor health or other factors, these adults wind up claiming a significantly smaller benefit as soon as they become eligible at age 62.

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