7 Facts Most People Get Wrong About Social Security
Social Security is a significant source of income for many retirees, but people often misunderstand even basic concepts behind this government program.
True or false: If you work less than 35 years, your benefit amount will be reduced.
Respondents who answered correctly: 38%
Work history
True or false: If you claim early, any spousal benefits your partner is eligible for will be reduced.
Respondents who answered correctly: 35%
Early claiming and spousal benefits
True or false: You can’t sign up for Medicare unless you are enrolled for Social Security.
Respondents who answered correctly: 34%
Medicare sign-up
True or false: You can undo a claiming decision within 12 months.
Respondents who answered correctly: 32%
Undoing a claim
True or false: Social Security is not protected against inflation.
Respondents who answered correctly: 32%
Inflation protection
True or false: Workers pay Social Security taxes on all of their income.
Respondents who answered correctly: 27%