Written by Broadridge Investor Communication Solutions, Inc. and Provided by Ken Fortuna, Financial Advisor with Waddell & Reed.
Most people will receive Social Security benefits at some point in their lifetimes, but how much do you know about this important source of income?
Take this quiz to learn more.
1. Can you receive retirement and disability benefits from Social Security at the same time?
2. If your ex-spouse receives benefits on your earnings record, your benefits will be reduced by how much?
A. Reduced by 30%
B. Reduced by 40%
C. Reduced by 50%
D. Your benefit will not be reduced.
3. Monthly Social Security benefits are required to be paid by which of the following methods?
A. Paper check only
B. Paper check, direct deposit, or debit card
C. Direct deposit or debit card
4. Are Social Security benefits subject to income tax withholding?
5. Once you start receiving social security retirement benefits, you can withdraw your claim if how much time has elapsed?
A. Less than 12 months since you’ve been receiving benefits
B. Less than 18 months since you’ve been receiving benefits
C. Less than 16 months since you’ve been receiving benefits
Did you know that 94% of all workers are covered under Social Security?
(Source: Social Security Fact Sheet on the Old-Age, Survivors and Disability Insurance Program, July 2017)
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My goal is to make it simple and straightforward to identify and plan for your financial goals, no matter what stage of life you are in.
A saving and investing period that usually runs from your early working years until your late 40s.
A time to manage your funds and transition to more conservative investing, usually your 50s and early 60s.
The time when you begin your post-work life and live off your investment income.
A time to pass down what you’ve learned and gathered to the next generation.
This article is meant to be general in nature and should not be construed as investment or financial advice related to your personal situation. The article was written by an independent third party, Broadridge Investor Communication Solutions, Inc. (Copyright 2018) and is provided for informational and educational purposes only.
Securities and Investment Advisory Services offered through Waddell & Reed, Inc, a Registered Broker-Dealer, Member FINRA/SIPC and Federally Registered Investment Advisor.