The vast majority of Americans are familiar with Social Security, but few understand it completely.

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Others simply assume that once they retire they can count on Social Security to cover their retirement expenses for the rest of their lives.

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Some people, however, feel Social Security does not provide a significant amount of retirement income, although it is nice to have.

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About half of beneficiaries receive at least 50% of their retirement income from Social Security. About 90% of retirees receive

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their income from Social Security. Therefore, Social Security contributes substantially to the retirement security of older Americans.

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You can't maximize your benefits unless you pay attention and develop a strategy.

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Tax and financial advisors can be valuable resources, but it's vital to understand how Social Security works at least

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the basics. You will be better prepared when the time comes for you to retire if you learn these facts early in your career. [{ "selector": ".frrkm-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": 1}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": 1} ] }]

the basics. You will be better prepared when the time comes for you to retire if you learn these facts early in your career.

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You'll also want to understand how to use different claiming strategies in conjunction with your own retirement savings.

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Use GOBankingRates' six-question quiz to find out if you know the ins and outs of Social Security.

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The following are not comprehensive, but if you understand these basic principles, you'll be well on your way to both

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Getting all of the retirement benefits to which you're entitled, and positioning yourself to make the most of your retirement income.

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