Many Americans are unaware of how the Social Security earnings test works as well. Just 56% of survey respondents correctly answered a question about it in Nationwide's survey.

The Social Security Administration continually tries to remind people of all ages that it pays benefit to more than just retirees.

Amidst ongoing economic uncertainty and a volatile presidential election, you may be concerned that another period of skyrocketing inflation would erode your Social Security benefits. But don’t fret too much.

If you don't know the basics of how Social Security works, making an informed decision about when to claim your retirement benefits becomes impossible. Applying for benefits too e