Page 8 August 13, 2015 TORRANCE TRIBUNE What You Think You Know About Social Security May Be Totally Wrong Social Security than their personal savings or income during retirement, and just 15 percent expected to rely solely on Social Security. You can test your Social Security knowledge by taking the MassMutual quiz. Here are some Social Security facts to help improve your knowledge: • No single filing strategy works for everyone filing for Social Security benefits; there are just too many variables. For example, a married couple may have hundreds of options for filing for Social Security retirement benefits. • Americans are living longer. It’s no longer sufficient to plan for just 10 years of retirement. You may well need savings and income to carry you for three decades or longer. • While Social Security can be an important component of your retirement plan, you need to have other income as well. Under- or over-valuing your Social Security retirement benefits could keep you from getting a true picture of your retirement savings plans. A qualified financial professional can better help you understand how Social Security fits into your personal situation. • Saxons from page 5 After the bizarre Inglewood game, league play began for the Saxons. North took care of business throughout their league season, beating up on the likes of Torrance High, South High and Centennial. It wasn’t until they played their rivals from West that they ran into some trouble. A 49-35 loss not only gave the Saxons the loss, but also put them behind the Warriors in the standings. It was that one loss that sealed North’s fate as the second place team and got them a matchup with Simi Valley in the first round of last year’s playoffs. The first place Pioneers ran over the Saxons from the start, scoring 28 first half points en route to a 45-19 victory. The loss sent North into the offseason, where they have been waiting all year to get back out on the field to avenge their wrong doings from last year. North will look begin their season of retaliation this August 28th when they take on Redondo in the first game of the season once again. The Saxons will have a very similar schedule to last season, also facing off against Inglewood, Nordhoff and their familiar league foes. This year, though, Juarez and the rest of his returning team are all one year older and have that much more experience under their belts. An October 16th matchup with West High should be one of the most intriguing games of the year as both teams will likely be battling for positioning atop the Pioneer League standings. While last year was West High’s turn, however, early indications seem to favor North this year. With a ready and rearing to go Mique Juarez taking over the offense, the North High Saxons should experience a great deal of success inside and out of the Pioneer League this coming season. • incorrectly believed they could continue working during retirement while collecting full Social Security benefits, regardless of their age. If you work during retirement, but have not yet reached your full retirement age, your Social Security benefits may be reduced if you earn too much. Once you reach full retirement age, those withheld benefits will be repaid over your lifetime. “Perhaps the greatest Social Security deficit in this country is the lack of education around the retirement benefits of the program,” says Michael R. Fanning, executive vice president, U.S. Insurance Group, MassMutual. “With millions of Americans nearing retirement each year, many may be at risk of underutilizing a critical component of their retirement income stream.” Still, some good news emerged from the survey. Americans seem aware that Social Security should be only one component of their overall retirement savings plan. Just 39 percent said they expected to rely more on Seniors (BPT) - Americans may have faith in the Social Security system, but many still don’t really understand how it works. That’s a key take-away from a recent survey of Americans’ knowledge of Social Security retirement benefits. While 63 percent of respondents said they do believe Social Security benefits will be available to them when they retire, many were confused about who qualifies for benefits, how much they’ll be eligible to receive, and when they can start drawing benefits without penalty. The survey, by Massachusetts Mutual Life Insurance Company (MassMutual), included a true/false quiz about Social Security facts. Just 28 percent of those surveyed scored a passing grade, and only one person out of the 1,500 polled was able to answer all survey questions correctly. The survey results illustrated a significant lack of knowledge about Social Security, including: • Although 75 percent of those surveyed thought being an American citizen is a requirement to receive Social Security retirement benefits, this is not the case. Noncitizens lawfully living in the U.S., and who have permission to work here, can obtain a Social Security number, pay into the Social Security system and draw benefits. • More than seven in 10 respondents mistakenly thought that 65 is the age when everyone can begin drawing full retirement benefits. Actually, your full retirement age depends on what year you were born. • Fifty-five percent of those surveyed C e r t i f i e d a n d L i c e n s e d P r o f e s s i o n a l s KEEP IT LOCAL NEW LOWER RATES! 26 weeks (6 months) is only $400 52 weeks (1 year) is only $750 If you have any questions call us at 310-322-1830. HOW TO PAY: CHECKS, CASH OR CREDIT CARDS. 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