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By moneyeditor
October 29, 2015
Shutterstock

How much do you really know about Social Security? Here’s your chance to find out.

The Social Security system plays a major role in the lives of most Americans. Ninety percent of people 65 and older collect Social Security benefits, according to the Social Security Administration. For 22% of older married couples and 47% of older unmarried persons, Social Security accounts for a whopping 90% or more of income.

The system’s importance is more than matched by its complexity. Claiming formulas, obscure terminology, and numerous guidelines all make it a challenge to navigate. And just when you think you have it down, anything can change: As part of a bipartisan budget deal, Congress is preparing to alter Social Security rules in a way that could cost dual-income high-earning couples tens of thousands of dollars in benefits.

To help you understand what you’re due, we’ve put together a quiz based on a survey conducted by AARP and the Financial Planning Association. In that survey, only 9% of people believed they were very knowledgeable about Social Security. Let’s see if you’re one of them.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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