Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

10 Mistakes That Reduce Your Social Security Payments

July 9, 2020 · Personal finance

8. Owing taxes or child support

If you’ve avoided taxes or child support obligations over the years you can expect the government to claim some of your benefits in order to make up for that.

In terms of owing taxes, there’s a 15% of your monthly benefits limit that the government can take. For child support, however, you can expect a cut of as much as 65%.

Needless to say, you should look for ways to pay everything back while you’re still working. During retirement, your income will be severely limited, especially if you have health issues and can’t work or if your savings aren’t great, or worse, non-existent.

If you love reminiscing about your college days, number 9 might turn them into a nightmare…..

Pages: 1 2 3 4 5 6 7 8 9 10 11

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A senior woman looking thoughtfully at her phone in a bright, modern home office. 6 Social Security Scams You Need to Pay Attention to
  • A happy retired couple enjoying the sunset on a beautiful porch. 8 States to Retire For Less Than 45K a Year
  • A retired couple looking at a map on a sunny balcony overlooking a beautiful coastal town. 10 Countries to Retire Where $150K Is More Than Enough
  • A happy retiree working on a laptop on a sunny patio, symbolizing flexible part-time work. 20 Great Part-Time Jobs For Retirees
  • A senior couple smiling while looking at a tablet in a bright, modern kitchen. 5 Crucial Medicare Changes Coming Soon
  • A senior couple happily unpacking groceries in a bright, modern kitchen. 9 Ways to Shop at Costco Without a Membership
  • A happy retired couple stands on the porch of a beautiful, sunny home, symbolizing an affordable and joyful retirement. 10 Best Places to Retire That Won't Break the Bank
  • An older man confidently using a laptop in a sunlit home office, symbolizing digital security. 7 Common Passwords To Avoid
  • A retired couple looking out a window in their bright, downsized modern home. 11 Mistakes to Avoid When Downsizing Your Home
  • A retired couple smiling on a balcony overlooking a scenic coastal village at sunset. 12 Best Countries to Live Perfectly Well on Social Security

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

7 Essential Tips for Seniors in These Uncertain Times for Economy

7. Calculate your safe withdrawal rate If we all knew when we were going to…

Read More →

10 Tax Breaks For Retirees Over 50

Additional IRA deduction – Older workers can defer paying income tax on more money, in comparison…

Read More →

10 Reasons Why Most American Seniors Are Addicted to Their Social Security

Explore why most seniors rely heavily on Social Security to survive retirement, from guaranteed lifetime…

Read More →

10 Quick Ways to Earn Some Extra Cash During Retirement

9. Altering and fixing clothing Where’s the tailor whenever you need one? Many people ask…

Read More →

6 Differing Retirement Goals You Need to Balance Out ASAP

A senior man practices yoga in a sunlit room, balancing physical health with daily retirement…

Read More →
An older man confidently using a laptop in a sunlit home office, symbolizing digital security.

7 Common Passwords To Avoid

Learn why common passwords leave retirees vulnerable to fraud and discover practical cybersecurity strategies to…

Read More →

18 Places Where Social Security Is More Than Enough

Discover 18 affordable US cities where you can live comfortably on Social Security alone, featuring…

Read More →

17 Ways to Make Sure Your Retirement Stays on Track

A man reads the Financial Times while checking his phone to diversify his retirement investments.…

Read More →

Here’s How Your 401(k) Plan Will Help You in Retirement

Dollar-cost averaging Second-guessing your investments is a pretty normal reaction. There’s always going to be…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.