Social Security Benefits are often the largest single retirement asset that an individual owns.

For most Americans, social security retirement benefits typically represent 30-60% of their retirement income and yet, according to the National Social Security Association, LLC over 90% of social security recipients receive less money than they are entitled to.

This oversight represents tens of thousands or even hundreds of thousands of dollars in lost retirement benefits.

Get realistic about Social Security

Social Security is a critical source of income in retirement, but many people are under-informed about it.

The average Social Security retirement benefit was recently $1,413 per month or about $17,000 per year. You might well collect more, though, and there are ways to increase your Social Security benefits.

The maximum benefit for those retiring at their full retirement age was recently $2,788 per month — or about $33,000 for the whole year.

The age at which you file for retirement benefits will determine the size of your monthly checks. You can start as early as age 62, but your benefits will be reduced by up to 30%. Wait until age 70, and your checks can be up to 32% bigger.

The more you know about retirement and what to expect from it, the better you can plan for it. A well-executed retirement plan can make a huge difference in your financial future, leaving you secure and comfortable for the rest of your days.