Financial adviser tackles misconceptions about drawing Social Security benefits

SHREVEPORT, La. (KSLA) — According to a survey released by the Nationwide Retirement Institute about Social Security, Americans across multiple generations lack critical Social Security education, with nearly half of adults in the U.S. saying they do not know how to maximize their benefits.

Nationwide Retirement Institute released its 10th annual Social Security survey, which revealed... — Nationwide Retirement Institute released its 10th annual Social Security survey, which revealed how Americans’ attitudes toward the program have shifted significantly over the past decade. The study found older Americans are increasingly concerned about its solvency in the near-term, with three-fourths (75%) of adults age 50+ saying they believe Social Security will run out of funding in their lifetime, up from 66% in 2014.(Nationwide)

On Wednesday, Aug. 30, KSLA was joined live by Colin Evans, of Evans Financial Group, so he could address some of these misconceptions. He answered the following questions:

Will Social Security fund most Americans’ retirement?
Does the age at which individuals start drawing on Social Security impact the amount they receive?
When is the ideal time to start collecting Social Security benefits?

WATCH THE FULL INTERVIEW BELOW:

When Do the Rich Stop Paying into Social Security in 2020?

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