Why settle for less money than you could receive in retirement? The more you know and strategize about it, the more money you'll likely be able to collect from Social Security -- especially if you can avoid these classic Social Security mistakes.

You really don't want to make mistakes when it comes to Social Security. Why? Well, because it's likely to make up a major chunk of your income in retirement. According to the Social Security Administration, the majority of elderly beneficiaries get 50% or more of their income from Social Security, while 22% of married elderly beneficiaries and 47% of unmarried ones get fully 90% or more of their income from it. Why settle for less money than you could receive in retirement? Don't make these seven Social Security mistakes: