Social Security Report

Twelve Question Social Security Quiz – Getting Benefit Questions Wrong Could Cost You - CNBC & AMAC

Lorie Konish of CNBC has a piece here that recaps results of a recent survey from MassMutual based on when one should claim Social Security, generally regarded as the biggest retirement choice one will ever make.  It was a 12-question true-or-false quiz given to 1,500 people 55 to 65 who have not yet started benefits.  Overall, results found 35% of respondents failed the quiz altogether, and 18% received a grade of “D.”  Just 3% of the respondents were able to answer all of the questions correctly.  Certain questions tended to stump people more.  Survey respondents were generally unable to distinguish the rules for spousal benefits after divorce and survivor benefits after the death of a spouse.  All of the questions and the answers are in Konish’s piece here.

The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.

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