Most retired workers depend on Social Security to some degree, and benefits tend to become an increasingly important source of income as people age. That information should motivate current workers to do what they can to maximize their future Social Security payments, but many people aren't sure what that means.

In a recent survey from Nationwide Retirement Institute, only 53% of respondents said they strongly agreed or somewhat agreed with the following statement: "I know exactly how to maximize my Social Security benefits."

That knowledge gap could have serious consequences in retirement. While very few people will get the maximum Social Security benefit, understanding how to maximize benefits is still important. Workers lacking that knowledge could shortchange themselves during their golden years.

Continue reading

Source Fool.com