Did you know if you take Social Security at the wrong time it can cost you thousands if not hundreds of thousands of dollars?
Since there are so many options to pursue when claiming benefits, Merkel-Damer will help you understand all your choices. Social Security is a mandated supplemental retirement system in the US that was established in 1935 as part of Franklin Delano Roosevelt's New Deal. It was motivated largely by the events of the Great Depression, which saw many Americans out of work and the nation's retired elderly often left in the direst of poverty. The intent of the program is to ensure a threshold subsistence level below which any worker who had paid into the program cannot fall. The Social Security program is funded out of payroll taxes; that is, a certain percentage of a worker's paycheck goes directly into a fund to help provide benefits to current recipients.