Social Security Retirement Quiz Test How Well Do You Know Your Social Security? Think you know all there is to know about Social Security? Take our quiz and find out! Step 1 of 11 9% What is the 2023 earnings cap for FICA?* $118,500 $160,200 $240,000 How is your personal social security funded?* 15.3% of first $160,200 of your annual income 7.9% of your annual income, no cap 5% of your annual income over $72,000 Where is Social Security money invested?* Government bonds Money market accounts Stocks and mutual funds How is the Social Security budget Funded?* Dedicated payroll tax, income trust fund reserves & taxes on social security benefits of higher earners Corporate taxes Government trust fund set up long ago What is the average Social Security retirement payment in 2023?* $1,827 $1,250 $2,780 If we did not have Social Security what percentage of Americans would be below the poverty line?* 15% 49% 38% What is the earliest age you can start collecting standard Social Security benefits?* 58 62 52 If you elect to take Social Security benefits at age 62, on average, by what percentage are your benefits reduced?* 40%-50% 10%-20% 25%-30% What was the most recent cost of living increase for Social Security for 2023?* 8.7% 0% 6% What can be done to fix Social Security funding issues?* Raise income limits from $160,200 Both Lower payments Enter Your Email to Get Your ResultsYour Name* Your Name Email* CAPTCHANameThis field is for validation purposes and should be left unchanged. Δ
