The mistakes that lead to lesser social security payments-David Giertz

Many people make the mistake of thinking that social security does not deserve a lot of thought when one is planning for retirement. Unfortunately, these people are proved wrong time and again. Recent research findings on have shed some light into what people who are approaching retirement age think about social security, and the level of ignorance is appalling. The President of Nationwide Financial Distributors, David Giertz, spoke about this problem saying that in the past, old people used to have pensions, but the amounts have significantly reduced with time. He feels that everyone that works in the financial sector needs to take their time and inform their clients about maximizing their social security benefits in old age.

According to the research on, a third of pensioners are receiving benefits that are way less than what they expected. The number is an increase from 22 percent surveyed in 2015. Even more worrying is the fact that 86 percent of this people have little to no idea about the factors which determine the amount of money they are supposed to get as social security benefits.

One of the mistakes that people make is thinking that as soon as they are of legal age to get the social security checks at, which is 62 years, they are free to start cashing in. While this is true, it is important also to note that the longer one waits before they start asking for the social security checks, the bigger the checks will be when they start coming in.

About David Giertz

Before he became the president of the Nationwide Investment Corporation, David Giertz was a financial advisor at the same company. Giertz has 31 years of experience in portfolio management of individuals and is also an FINRA registered broker and financial advisor. He has been operating from Dublin, Ohio for the time that he has been working with Nationwide Investment.