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Collecting Social Security benefits is an important part of every retirement income plan, but the process can be complicated and confusing. In this episode of Retiring Today with Loren Merkle, we examine seven Social Security headlines and determine whether they are fact or fiction.

These seven statements are vetted out in this episode.

1. Fact or Fiction: Social Security will run out of money before I retire.

2. Fact or Fiction: The surviving spouse, at full retirement age, generally gets 100% of the worker's basic benefit amount.

3. Fact or Fiction: An ex-spouse's benefit comes out of your own benefit.

4. Fact or Fiction: Social Security is all I need in retirement.

5. Fact or Fiction: I won't pay taxes on my Social Security benefit.

6. Fact or Fiction: Social Security is based on my top 35 wage-earning years.

7. Fact or Fiction: The annual COLA is guaranteed.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY® https://merkleretirementplanning.com/staff-members/loren-merkle/

Chawn Honkomp, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®, CPA® https://merkleretirementplanning.com/staff-members/chawn-honkomp/

Molly Nelson, Host of Retiring Today https://merkleretirementplanning.com/staff-members/molly-nelson/

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