This Social Safety quiz may also help inform whether or not you are prepared to assert

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Deciding at what level you’ll acquire Social Safety advantages could also be one of many greatest choices you make in retirement.

But many people who find themselves at or close to the age once they face that selection could must brush up on this system’s guidelines earlier than they do.

MassMutual not too long ago gave a 13-question true/false quiz to 1,500 people ages 55 by way of 65.

The outcome was 65% of individuals both failed or obtained a D grade. In the meantime, 18% of respondents earned a C, whereas 12% obtained a B and 6% earned an A. Simply 1% of respondents obtained an ideal rating.

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Claiming Social Safety advantages is considered one of two massive time-sensitive choices individuals near retirement should make, in response to David Freitag, a monetary planning guide and Social Safety knowledgeable at MassMutual. The opposite is how they may acquire medical health insurance protection.

“There are particular guidelines, particular deadlines and particular dates that should be met,” Freitag stated. “Or you possibly can uncover after the truth that that oversight was very expensive in the event you’re not cautious.”

One factor to think about is the quantity of advantages chances are you’ll obtain primarily based in your age. For most individuals approaching retirement now, age 67 is when they may obtain their full advantages primarily based on their earnings historical past. In the event that they delay as much as age 70, their month-to-month checks will probably be even greater.

There are different concerns primarily based in your private state of affairs, notably if in case you have a partner or kids who can also profit out of your claiming choice.

To take the quiz, reply whether or not every of the next statements is true or false. Then test your responses towards the important thing beneath.

When you discover you should brush up on Social Safety’s guidelines, the company’s web site is a good place to start out, Freitag stated. MassMutual additionally has extra info that will help you type by way of your choices.

True or False?

  1. Typically, if I take advantages earlier than my full retirement age, they are going to be diminished for early submitting.
  2. If I’m receiving advantages earlier than my full retirement age and proceed to work, my advantages is perhaps diminished primarily based on how a lot I make.
  3. If I’ve a partner, she or he can obtain advantages from my file even when she or he has no particular person earnings historical past.
  4. If I’ve a partner and she or he passes away, I’ll obtain each my full profit and my deceased partner’s full profit.
  5. Usually, if I’m in a same-sex marriage, there are completely different eligibility necessities in the case of Social Safety retirement advantages.
  6. The cash that comes out of my paycheck for Social Safety goes into a particular account for me and stays there, incomes curiosity, till I start to obtain Social Safety advantages.
  7. Beneath present legislation, Social Safety advantages may very well be diminished by 20% or extra for everybody by 2035.
  8. If I file for retirement advantages and have dependent kids aged 18 or youthful, additionally they could qualify for Social Safety advantages.
  9. If I get divorced, I would be capable to acquire Social Safety advantages primarily based on my ex-spouse’s Social Safety earnings historical past.
  10. Beneath present Social Safety legislation, full retirement age is 65 irrespective of while you had been born.
  11. If I delay taking Social Safety advantages previous the age of 70, I’ll proceed to get delayed retirement credit score will increase every year I wait.
  12. Social Safety retirement advantages are topic to earnings tax similar to withdrawals from a conventional particular person retirement account.
  13. I have to be a U.S. citizen to gather Social Safety retirement advantages.


  1. True (89% of respondents answered this appropriately)
  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%)

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