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Millions Risk Losing Social Security Benefits Over This Overlooked Mistake

April 30, 2026 — 04:38 am EDT

Written by

Maurie Backman for

The Motley Fool->

Key Points

- Your Social Security benefits in retirement are based partially on your personal wage history.

- If your earnings record isn't accurate, you could end up with smaller monthly checks.

- There's an easy way to check your earnings history and protect your Social Security benefits.

- The $23,760 Social Security bonus most retirees completely overlook ›

Many retirees today would not be able to make ends meet without Social Security. And once you retire, you may become pretty reliant on those monthly benefits as well. That's why even small errors in how those benefits are calculated could have a meaningful impact on your retirement finances over time.

Your Social Security benefits are based on two factors -- your personal wage history and your filing age. If you claim Social Security at full retirement age, which is 67 for anyone born during or after 1960, you'll get your monthly benefits without a reduction. Filing early will result in smaller checks, while a delayed claim gives you boosted benefits.

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What this means is that if your earnings record isn't accurate, you could end up with smaller Social Security benefits than you're actually entitled to. And if you don't keep tabs on your earnings record, you risk losing out big time.

How to check your Social Security earnings record

A lot of people don't know to check their Social Security earnings record. By not taking a look, though, you risk not knowing if you have underreported income on file that could lead to smaller benefits during retirement.

The good news is that reviewing your Social Security earnings record is relatively quick and easy.

Start by logging into your account on SSA.gov or creating one if you don't have one yet. From there, access your earnings statements. They should have information on your reported wages so you know what details the Social Security Administration (SSA) has on file for you.

Some common issues to look out for include:

- Incorrect wages

- Income not reported due to a name change

- Self-employment income not property recorded

Even a single year of missing or underreported income could have a big impact on your Social Security checks down the line. So if you find an error, don't just sit on it. Report it to the SSA to get it corrected.

A small step with a potentially huge payoff

Checking your earnings record might seem like a drag. But it's one of the most important steps you can take to protect your retirement income.

It's natural to assume that the SSA has correct wage information for you on record. And that may be the case. But if you don't look, you won't know. And the last thing you want is smaller monthly benefits for life simply because you didn't take the time to do some digging.

The $23,760 Social Security bonus most retirees completely overlook

If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income.

One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these strategies.

View the "Social Security secrets" »

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