10 Things You Should Know About Social Security

How's your Social Security knowledge? Here are 10 things many Americans don't know.

Matthew Frankel, CFP
Matthew Frankel, CFP
Jul 18, 2015 at 9:06AM
Investment Planning

Many Americans don't have a great deal of knowledge when it comes to Social Security. In fact, according to recent surveys:

  • 71% of Americans believe that the normal Social Security retirement age is 65.
  • 75% believe you need to be a U.S. citizen to collect benefits.
  • 55% think having a job has no effect on Social Security benefits, no matter what.
  • 41% fear that Social Security won't exist by the time they retire.

All four of these statements are 100% false. If you were surprised by any of these, check out this slideshow of 10 facts you may be surprised to learn about Social Security.