Chuck,
I don't believe the Government doesn't want you to know how to receive the maximum benefit because there are many rules and strategies that can help increase your overall benefits based on varying circumstances. I can't speak for any particular service that may offer assistance in helping you claim the most beneficial scenario for you. I do believe you should carefully consider all the available options before making a permanent decision and an advisory service or a specialized financial professional may be able to help you make the best decision.
Here are some examples of mistakes that can be made:
- Most beneficiaries claim benefits too early, and it happens because they underestimate life expectancy. Social Security is longevity insurance. It protects you from outliving your income should you live a long time.
- Relying on the Social Security Administration (SSA) is a common error. I’ve heard anecdotes of people receiving incorrect advice from SSA representatives and being given different answers to the same question by different SSA reps.
- Many people don’t realize all the benefits for which they’re eligible because they don't know all the rules.
- Another common oversight is not realizing some benefits decisions can be changed.
- Claiming benefits at age 62 while you are still working permanently reduces your monthly benefit and your benefits are limited based on your other income until full retirement age.
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