U.S. workers appear to have a knowledge gap about Social Security, which could lead to money-losing mistakes once program benefits commence.
Exhibit "A" is a recent T. Rowe Price report from Allianz Life Insurance Company of North America, which states that 53% of Americans say: “They do not know much about Social Security or how it will fit into their retirement plan.” Even so, most U.S. workers aren’t seeking professional guidance on Social Security planning, with only 17% who have a financial adviser saying they’ve discussed “maximizing their Social Security income in retirement” with them.
