7 Social Security Myths That Can Cost You in Retirement

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The closer we get to retirement, the more Social Security’s exacting rules suddenly matter. Yet fewer than half of American adults are confident in their knowledge of Social Security’s rules, according to a new survey by Nationwide Retirement Institute.

The danger of buying into myths about Social Security is that they can form the basis of decisions — even early in your work years — that will hurt your finances in retirement.

Here is a look at some popular myths and misunderstandings about Social Security.

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