1. Not making a plan or considering all options
2. Filing for reduced benefits at age 62
3. Assuming the SSA will know a claimant’s most advantageous strategy
4. Failing to review annual statements for accuracy
5. Not knowing the Windfall Elimination Provision (WEP) or Government Pension Offset (GPO)
6. Lacking a thorough understanding of Medicare
7. Not understanding retirement can be a joint lifetime benefit
8. Not understanding how earned income impacts benefits
9. Not understanding the taxation of benefits
10. Not making an appointment to apply for Medicare benefits three months before turning 65, even if retirement benefits will not be claimed at that age
Brandon M. Smith, LPL Investment
Advisor Representative
Lifetime
Planning, Inc.
Securities offered
through LPL Financial,
member FINRA/SIPC