Most individuals fail this Social Security test– see how you do

Most people fail this Social Security quiz — see how you do

Revealed: The Secrets our Clients Used to Earn $3 Billion

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Understanding the ins and outs of Social Security’s numerous guidelines around claims will assist you make the very best choices when accessing retirement advantages.

But a current MassMutual survey offered to individuals near or currently in retirement reveals that numerous have some brushing as much as do on the program’s guidelines.

The 13- concern true/false test was offered to 1,500 people ages 55 through 65.

Most did badly: Almost two-thirds, 65%, either stopped working or got a D grade. Meanwhile, 18% of participants made a C, while 12% got a B and 6% made an A. Just 1% of participants got a best rating.

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Claiming Social Security advantages is among 2 huge time-sensitive choices individuals near to retirement need to make, according to David Freitag, a monetary preparation expert and Social Security professional at MassMutual. The other is how they will get medical insurance protection.

“There are definite rules, definite deadlines and definite dates that need to be met,” Freitag stated. “Or you could discover after the fact that that oversight was very costly, if you’re not careful.”

One thing to think about is the quantity of advantages you might get based upon your age. For the majority of people approaching retirement now, age 67 is when they will get their complete advantages based upon their revenues history. If they postpone as much as age 70, their month-to-month checks will be even larger.

There are other factors to consider based upon your individual circumstance, especially if you have a partner or kids who might likewise gain from your declaring choice.

To take the test, address whether each of the following declarations holds true or incorrect. Then inspect your reactions versus the essential listed below.

If you discover you require to review Social Security’s guidelines, the company’s site is an excellent location to begin, Freitag stated. MassMutual likewise has extra details to assist you arrange through your choices.

Social Security advantages test: True or incorrect?

  1. In most cases, if I take advantages prior to my complete retirement age, they will be minimized for early filing.
  2. If I am getting advantages prior to my complete retirement age and continue to work, my advantages may be minimized based upon just how much I make.
  3. If I have a partner, she or he can get gain from my record even if she or he has no specific revenues history.
  4. If I have a partner and she or he dies, I will get both my complete advantage and my departed partner’s complete advantage.
  5. Generally, if I remain in a same-sex marital relationship, there are various eligibility requirements when it concerns Social Security retirement advantages.
  6. The cash that comes out of my income for Social Security enters into a particular represent me and stays there, making interest, till I start to get Social Security advantages.
  7. Under present law, Social Security advantages might be minimized by 20% or more for everybody by 2035.
  8. If I declare retirement advantages and have reliant kids aged 18 or more youthful, they likewise might get approved for Social Security advantages.
  9. If I get separated, I may be able to gather Social Security advantages based upon my ex-spouse’s Social Security revenues history.
  10. Under present Social Security law, complete retirement age is 65 anytime you were born.
  11. If I postpone taking Social Security advantages past the age of 70, I will continue to get postponed retirement credit increases each year I wait.
  12. Social Security retirement advantages undergo earnings tax much like withdrawals from a conventional specific retirement account.
  13. I need to be a U.S. person to gather Social Security retirement advantages.


  1. True (89% of participants addressed this properly)
  2. True (82%)
  3. True (72%)
  4. False (68%)
  5. False (65%)
  6. False (62%)
  7. True (60%)
  8. True (58%)
  9. True (57%)
  10. False (56%)
  11. False (49%)
  12. False (42%)
  13. False (24%)