Knowing the rules about Social Security is crucial. School of Management Professor Peter Harris tells Newsday in "Money Fix: Social Security Rules" that one of the top rules concerns when to tap into your social security account. If you take Social Security before your full retirement age, says Harris, there will be a permanent decrease in payments.
Those who take it later will see an increase in payments. Harris was among several experts who contributed tips for those who need a better understanding of Social Security.