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Individuals approaching retirement should understand how Social Security works and what options they have. Today, we will cover the basics of the Social Security program, how eligibility and benefit amounts are determined, and look at different options available to you when deciding on the best time to start receiving benefits. We will focus extensively on the future of Social Security because under the “best estimate” set of assumptions, the 2013 Trustees Report finds that in 2023, revenues plus interest income to the trust funds will be less than total expenditures for that year. Tune in
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