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Most people don't know these 5 Social Security rules

Mediafeed Logo By Jeremy Luskin of Mediafeed | Slide 1 of 7: In 2019, 64 million Americans were estimated to have received Social Security benefits, and for more than half of elderly beneficiaries, Social Security represented over 50% of their income. Nonetheless, a recent SimplyWise survey found that less than one in eight Americans aged 60 to 70 considered themselves “very knowledgeable” on the topic. Worse, only one out of 300 people asked knew the correct answer to all five of the following questions. These questions are fundamental and confusions lead to people missing out on income they desperately need. Whether you’re single, divorced or married and looking to maximize your retirement income, familiarizing yourself with the rules is paramount to a relaxed retirement.

How good is your Social Security knowledge?

In 2019, 64 million Americans were estimated to have received Social Security benefits, and for more than half of elderly beneficiaries, Social Security represented over 50% of their income. Nonetheless, a recent SimplyWise survey found that less than one in eight Americans aged 60 to 70 considered themselves “very knowledgeable” on the topic. 

Worse, only one out of 300 people asked knew the correct answer to all five of the following questions. These questions are fundamental and confusions lead to people missing out on income they desperately need. Whether you’re single, divorced or married and looking to maximize your retirement income, familiarizing yourself with the rules is paramount to a relaxed retirement.

© monkeybusinessimages / Getty

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