Survey Shows That Pre-Retirees Don't Know 3 Important Social Security Facts
Social Security pays out around $67.7 billion in benefits to more than 45 million retired Americans, serving as a vital source of income for most who collect it. Yet as important as these benefits are, many Americans don't understand key facts about them. According to a recent study conducted by MassMutual, 52% of pre-retirees between the ages of 55 and 65 who completed a quiz about Social Security received a D grade.
Sadly, confusion could directly affect how much money retirees receive, or even whether they get benefits at all. Here are a few commonly misunderstood facts.
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Source Fool.com