Social Security is an important source of retirement income for millions of Americans, but how much do you know about this program? Test your knowledge, and learn more about your retirement benefits, by answering the following questions.
1. Do you have to be retired to collect Social Security retirement benefits?
2. How much is the average monthly Social Security benefit for a retired worker?
3. For each year you wait past your full retirement age to collect Social Security, how much will your retirement benefit increase?
4. How far in advance should you apply for Social Security retirement benefits?
a. One month before you want your benefits to start.
b. Two months before you want your benefits to start.