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

4. Rising Medicare premiums

While the age at which you can apply for Medicare does not change, the premiums certainly might.

As mentioned earlier, since premiums are deducted from your benefits, as the costs rise, your Social Security dwindles. This could be a major concerning factor for those who will rely heavily on their benefits during their retirement.

Back in 2012 premiums for Medicare Part B cost $99.90. In 2020, however, seniors are expected to pay $144.60. Naturally, higher earners must pay more. If you and your spouse earn more than $174,000 per year then you’ll be charged between $202.40 to $491.60.

It’s best to try and figure out their costs ahead of time so that you may supplement your retirement savings in order to fill these gaps in your Social Security.

‘The early bird catches the worm’? It would seem not in the case of number 5…..

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Your email address will not be published.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 panoramic view of the twin crater lakes of Sete Cidades in the Azores, featuring one blue and one green lake surrounded by lush green hill 9 Scenic (and Cheap) Destinations That Rarely Disappoint
  • A retiree looks out over a lush tropical valley at sunset from a terracotta balcony, holding a coffee mug. 10 Best Countries to Retire Abroad in 2027
  • A retired couple stands amidst moving boxes in their living room, bathed in warm afternoon sunlight during their relocation process. 8 Common Relocation Mistakes Retirees Tend to Make
  • 7 Costco Items Worth Buying in Retirement Because They Actually Lower What You Spend Each Month
  • A retired couple at a kitchen table looking at a map and tablet, planning their next move to a surprise retirement destination. 8 Places That Surprise Retirees in the Best Possible Way
  • A panoramic watercolor illustration showing a transition from green mountains to red deserts and blue lakes. 11 Nature-Filled Destinations Perfect After 60
  • A retired couple sits on a coastal bench in Maine at twilight, looking out at a harbor with lobster boats. 9 Charming Northern Spots for Retirement
  • A stylized gouache illustration of a western landscape featuring mountains, red rock mesas, and pine forests under a warm afternoon sun. 10 Western Retirement Spots with Incredible Lifestyle Appeal
  • Three active seniors walking through a vibrant, sunlit downtown plaza with a dog and coffee, representing a fulfilling retirement lifestyle. 9 Places Where Seniors Are Finding More Things to Do
  • A senior man at a kitchen table early in the morning, looking at a laptop with a financial graph, representing proactive retirement planning Social Security's 2027 COLA Forecast Just Changed - Here's What Retirees Should Know

Newsletter

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

Related Articles

How 8 Types of Retirement Income Get Taxed

Pensions While pensions seem to be growing out of style, we mustn’t forget that when…

Read More →

14 Tips To Make The Most Of Your Social Security Check

Relocate to a place with lower costs of living One very important aspect when planning…

Read More →

10 Best Jobs for Retirees

Baby Sitter Average Hourly Pay: $16.43 If you have a family, chances are you already…

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 →

11 Ways to Improve Your Finances Before You Retire

A smiling woman sits at her desk using a laptop to maximize her retirement catch-up…

Read More →
A retired couple smiling on a balcony overlooking a scenic coastal village at sunset.

12 Best Countries to Live Perfectly Well on Social Security

Discover the top 12 countries where your Social Security check provides a high quality of…

Read More →

Divorcing in Retirement? Here Are 15 Ways To Safeguard Your Financial Future

Fund Your 401(k) If you are still employed and working, even if you are older…

Read More →

7 Best Funds To Invest In For Retirement

By investing in something for your retirement years, you basically make sure you’ll have anything…

Read More →

10 Quick Ways to Earn Some Extra Cash During Retirement

4. Creating Do you like spending time making crafts and handmade things? Maybe it’s time…

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.