These Social Security Myths Could Sink Your Retirement


Buying into these three misconceptions could be downright disastrous. Maurie Backman of The Motley Fool explains why.

In the course of preparing for retirement, there are certain things you’ll need to do: sock money away in an IRA or 401(k), read up on healthcare costs, decide where you’ll settle down during your senior years, and come up with a game plan for claiming Social Security.

But if you buy into the wrong information, you could end up botching your filing and regretting it after the fact, or making poor choices with regard to how much you save. Here are three Social Security myths with the potential to destroy your retirement.