--- title: "CNBC: Bad Social Security advice cost recipients $131 million, report finds" description: Covisum President Joe Elsasser, CFP® was recently quoted in CNBC discussing the impact of incorrect Social Security benefit advice. image: https://www.covisum.com/hubfs/cnbc-logo-blog.jpg --- [Login](https://www.covisum.com/login-experience) | [Call: 402-235-4500](tel:1-402-235-4500) | [Contact Us](https://www.covisum.com/contact) ** [![covisum-logo](https://www.covisum.com/hs-fs/hubfs/covisum-logo.png?width=264&height=41&name=covisum-logo.png "covisum-logo")](https://www.covisum.com/) [![Start Your Free Trial](https://no-cache.hubspot.com/cta/default/2755909/b23743cd-d0df-4907-a66d-293b58ab1164.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/b23743cd-d0df-4907-a66d-293b58ab1164) [![Contact Us](https://no-cache.hubspot.com/cta/default/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532) # CNBC: Bad Social Security advice cost recipients $131 million, report finds [IN THE NEWS  |  ](https://www.covisum.com/blog/topic/in-the-news)3/5/18 2:27 PM  |  by [Katie Godbout, Vice President of Sales & Marketing](https://www.covisum.com/blog/author/katie-godbout-vice-president-of-sales-marketing) ![CNBC-logo-1-1600x390.png](https://www.covisum.com/hs-fs/hubfs/CNBC-logo-1-1600x390.png?width=640&name=CNBC-logo-1-1600x390.png) Covisum President [Joe Elsasser](https://www.covisum.com/our-team/#joe), CFP® was recently quoted in a CNBC article, "[Bad Social Security advice cost recipients $131 million, report finds](https://www.cnbc.com/2018/03/01/bad-social-security-advice-cost-recipients-131-million.html)."  The article summarizes a report from the Social Security Administration's Office of the Inspector General, which estimated that 9,224 widow and widower beneficiaries, age 70 and up, were underpaid by over $131 million. The article goes on to explain how those who may have been affected can take steps to correct the issue. Joe offers this advice in the article:  > Unfortunately, receiving the wrong advice on Social Security claiming strategies is common, according to Joe Elsasser, president of Covisum, a provider of Social Security Timing software...We see that sort of situation a lot, where a divorced spouse doesn't have any idea what is available or what could be available based on their ex's record," Elsasser said. [Read the full article ](https://www.cnbc.com/2018/03/01/bad-social-security-advice-cost-recipients-131-million.html)and learn other tips from Joe so you aren't leaving money on the table for your clients. Take it another step and subscribe to Social Security Timing® to help optimize your clients' Social Security benefits strategy and increase their retirement value by up to $100,000. [![Buy Now](https://no-cache.hubspot.com/cta/default/2755909/c5854ff8-41fe-4278-9f15-e8c1b0c90fa8.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/c5854ff8-41fe-4278-9f15-e8c1b0c90fa8) *Never tried Social Security Timing? Learn more and [Take a 10-day free trial. ](https://www.covisum.com/solutions/social-security-timing)* ### Share this article [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fcnbc-bad-social-security-advice-cost-recipients-millions%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fcnbc-bad-social-security-advice-cost-recipients-millions%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fcnbc-bad-social-security-advice-cost-recipients-millions%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fcnbc-bad-social-security-advice-cost-recipients-millions%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=CNBC%3A%20Bad%20Social%20Security%20advice%20cost%20recipients%20%24131%20million%2C%20report%20finds) ## Related Blog Articles [ ### Social Security Optimizing Social Security: A Key Component of Retirement Planning Read ](https://www.covisum.com/blog/optimizing-social-security-a-key-component-of-retirement-planning) [ ### Social Security Trustees report 2024 Social Security Trustees Report and Benefit Cut Scenario Updates Read ](https://www.covisum.com/blog/social-security-trustees-report-and-benefit-cut-scenario-updates) [ ### Social Security When Should Your Clients Start Social Security Retirement Income Planning? (Psst: Right Now!) Read ](https://www.covisum.com/blog/when-should-your-clients-start-social-security-retirement-income-planning) [See All Articles](https://www.covisum.com/blog) ## Covisum’s ecosystem of solutions can help you grow. [Sign Up Free](https://www.covisum.com/pricing/individual-subscription) ## Stay Connected Access industry news, expert insights, best practices, free downloads and more. [![Logo-White-Stacked](https://www.covisum.com/hs-fs/hubfs/Logo-White-Stacked.png?width=124&height=146&name=Logo-White-Stacked.png "Logo-White-Stacked")](https://covisum.com) 444 Regency Parkway Dr. Suite 201 Omaha, NE 68114 - - - - Read Reviews of Our Solutions In: [![Footer Capterra Logo](https://www.covisum.com/hubfs/Capterra_logo%20(1).svg) ](https://www.capterra.com/p/203728/Tax-Clarity/reviews/)[![Footer G2 Logo](https://www.covisum.com/hubfs/logo-g2.png) ](https://www.g2.com/search?utf8=%E2%9C%93&query=covisum) [![Contact Us](https://no-cache.hubspot.com/cta/default/2755909/interactive-193539503962.png) ](https://www.covisum.com/hs/cta/wi/redirect?encryptedPayload=AVxigLKAe3MC%2FRbICk%2B15AeMtFj3hGCzsQ2YISykqq%2FGf4B%2BGrj%2Bu%2FwgSvLkrHBnb7D9Wes0Qq56TqXMgJxsArapGKUiz1Qp3L6h%2BuXoMeHZ7ATpm4gkhn%2FbN01A8Quv9ckxwPqoyVbYAar05d4j6MNRNB1tha1Af0S0YQYRaOO5YWDiEHE%3D&webInteractiveContentId=193539503962&portalId=2755909) [![SOC 2 T2 Logo](https://no-cache.hubspot.com/cta/default/2755909/interactive-193539503801.png) ](https://www.covisum.com/hs/cta/wi/redirect?encryptedPayload=AVxigLIPE1Zj3in6tXhEH8dtxMv1I1omH335fuKTi1vhZ9RYFj6P7umszmKgFljAgs7ftNuUMOckHSEqJkTmYk0ydfTz59Mqs5bFEW0qauqLtrk8EYRffAT5RW8j8VlNsj%2FFG86CQbvrXSJNMES%2FqaRCaWhCeEVEdrV%2BAxqaf5Hs851axS700DHXfMBQsR80LSetd1iPNlUJ&webInteractiveContentId=193539503801&portalId=2755909) © 2010 – 2026 Covisum®. All Rights Reserved. For advisor use only. Covisum is not connected with, affiliated with or endorsed by the United States government or the Social Security Administration. The local advisor offering Covisum products may be an insurance agent, financial advisor, accountant or attorney. Advisors may offer other products or services and are compensated by commissions and/or fees for any other services they may provide. [Terms and Conditions](https://www.covisum.com/terms-of-use) | [Privacy Policy](https://www.covisum.com/privacy-policy) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Katie Godbout, Vice President of Sales & Marketing", "url" : "https://www.covisum.com/blog/author/katie-godbout-vice-president-of-sales-marketing" }, "dateModified" : "2024-02-21T18:18:07.378Z", "datePublished" : "2018-03-05T20:27:36.000Z", "headline" : "CNBC: Bad Social Security advice cost recipients $131 million, report finds", "image" : [ "https://www.covisum.com/hubfs/cnbc-logo-blog.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.covisum.com/blog/cnbc-bad-social-security-advice-cost-recipients-millions", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.covisum.com/hubfs/Covisum-Logo-Grey.png" }, "name" : "Covisum LLC" } } ```