I keep hearing an advertisement on conservative talk radio that gives a Web site called socialsecurityfree.com that says the government is planning to reduce Social Security payments and plans to do it soon. They say that they have a free trick to add up to $1,000 to your Social Security payments. This seems like a scam to me, but knowing what the government is doing, has done, and may plan to do to the American people, I’m not sure it isn’t true. Are you familiar with the ad, and do you think it is true? If so, what should we do? Thanks Terry!
Terry Says: Gosh I heard the same ad on the radio today! It is just a come-on, so ignore it. ( A lot of people must be clicking through, getting caught in their subscription machine, to pay for all those radio ads!)
BUT, there is a real issue about whether you will receive all your promised Social Security benefits. It’s not that the system will ‘fail” in your lifetime –but the fact that the benefits are likely to be “means-tested” — in the same way that people who have higher income pay more for Medicare each month. In order to keep the system solvent, you can be sure that within the next 5-10 years, those who either have income or assets will find themselves receiving less in benefits. If you attempt to game the system by taking benefits before full retirement age, though, you will be condemning yourself to permanently lower benefits — not advisable!