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Social Security Myths Cost You Money | Durham News
Many retirees are making costly financial mistakes fueled by a widespread myth: that Social Security will vanish when the trust fund runs dry. In reality, the system could still pay 78% of benefits using ongoing payroll taxes—even after the trust fund is depleted. Surveys reveal that most people, regardless of age or politics, don’t grasp how the system actually works, with 81% opposing benefit cuts. Yet, nearly half plan to claim early, thinking they’re protecting themselves, when in fact they permanently reduce their monthly checks. The real culprit? “Inflow neglect”—ignoring the steady…
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