The survey says: Most Don’t Understand Social Security - Kiplinger
Mass Mutual (an insurance provider) conducts an annual survey and quiz which tests the Social Security knowledge of survey participants. The most recent quiz tested 1,500 individuals in the key demographic age 55 to 65 who had not yet claimed Social Security and found that 65% of respondents got a grade of “D” answering 13 basic questions. That’s a pretty disturbing statistic when you consider that 90% of American’s who receive benefits say that Social Security is a “major” part of their retirement income. Knowledge is key, and this Kiplinger article by David Rodeck offers information about eight important things which can affect the amount of your Social Security payment and, thus, affect your retirement comfort. Click here to read more.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public service to help Americans navigate the complexities of this program. Learn more about it here…