Although Social Security has been around for nearly 90 years, many Americans still lack basic knowledge about their benefits, including when to take them, how to maximize them, and why the full retirement age, or FRA, is important.
A 2025 survey from Nationwide Financial (pdf) points out that few people know all the factors for determining an individual’s maximum Social Security benefit. For instance, just 21% of all respondents were able to correctly identify at what age they are eligible to receive full Social Security benefits.
