When Should You Apply for Social Security

question 174

Multiple Choice

When should you apply for Social Security?

• A) 3 months before you retire
• B) 1 year before you retire
• C) 1 year after you retire
• D) 10 years before you retire
• E) On the day you retire

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Definitions:

Convertible

Refers to a financial instrument, like a bond or share, that can be transformed into another form of financial asset, like shares of the company's stock.

Dividends Paid

Dividends paid refer to the portion of a company's earnings that is distributed to shareholders as a reward for their investment.

Nonparticipating Preferred Stock

A type of preferred stock that does not entitle the shareholder to share in the company’s extra earnings beyond the fixed dividend payment.

Cumulative

Referring to a total that increases over time by adding successive amounts.