As a financial professional, I know people have some unusual notions about money matters. And I know not all financial advice penned by Internet "experts" is accurate. The same goes for Social Security. You are probably hearing a lot of mixed up, misinterpreted, misunderstood, and flat out wrong things about what is likely to be one of your biggest retirement assets. Here are some of the most common Social Security myths:

Myth: Social Security is Tax-Free

When you log on to your account at Social Security (SSA.gov/myaccount) for an accounting of what to expect in monthly Social Security retirement benefits, you may see a decent-looking number. OK, now cut that back a bit. Many believe Social Security income is tax-free. Fact is, for many—especially for those who have the resources to use a financial professional—that benefit is taxable. Remember to think about that as you mentally prepare a retirement budget. Uncle Sam gets a taste. Even in retirement.

Myth: Social Security Won't be There for Me

Haters gonna hate. But the numbers tell a different story. Social Security's accounting shows the agency will continue collecting more than it pays out for the next few years. Then, it will still have its trust fund—a kind of savings account—to draw from until 2034. After that, it will be taking in less than it pays out, but will still be able to fund 79% of benefits. A lot can happen between now and 2034.

Myth: There's One "Best Age" to File for Social Security

You hear a lot about "maximizing" Social Security benefits. But the fact is, until someone invents a test to determine exactly when you will die, there's no way to identify "maximum" benefits. That's because Social Security calculates benefits to actuarially provide essentially the same lifetime benefit no matter when you retire. There is no "best age." Claim early, at 62, and receive less each month, but for many more months. Claim later, at 70, and get a higher benefit, but for less time. There is no wrong time to file. There is only a right time for each individual, based on individual circumstances. That's where financial professionals come in, helping you pick the time that's right for each person.

Myth: Everyone is Entitled to Social Security

Nope. Social Security is pay for play. Unless you are disabled, Americans need to have 40 credits to qualify for benefits. Those credits are earned gradually; workers earn one in 2016 for every $1,260 in earned wages, up to four a year. So in most cases, it takes 10 years of actual working at a paid job to earn access to Social Security. And even then, some won't qualify if they contributed to a government or railroad retirement program instead of Social Security.

Myth: Medicare is Free

Just like Social Security, Medicare requires workers to have a record of earned wages. And yes, Part A covers hospital costs for qualified recipients over 65 for free. But that's only part of the deal. For those who want someone to actually care for them while they lie in that free hospital bed, they'll need Medicare Part B, which costs about $105 a month for most people. So add that cost into the retirement budget. And don't forget copays and deductibles. Want a plan that fills the gaps, something known as a Medigap plan? (or known as Medicare Supplement Ins.) That'll cost even more.

Myth: When a Spouse Passes, the Survivor Gets That Benefit too

Well ... sort of. If a higher-earning spouse dies, his or her survivor can claim that higher retirement benefit. But that survivor gives up his or her old benefit. So the survivor might get a "raise," but total household income will decrease because Social Security doesn't continue sending two checks. Unfortunately, property taxes, cable TV, landscaper, and HOA costs don't decrease because one less person lives in the household. That's why it's important to plan for another source of guaranteed lifetime retirement income that will never decrease; no matter how long both spouses live.

Myth: When a Spouse Passes, Social Security Provides for Final Expenses

Not really. A surviving spouse is entitled to a $255 payment, an amount that hasn't changed since 1954. That's it. Trust me that will not cover final expenses.

Myth: You Must Visit a Social Security Office and Wait in a Long Line for Help

Au contraire mon frère (if you'll pardon our French). Social Security is getting better at providing services online. From checking anticipated benefits at SSA.gov/myaccount to filing for benefits, even requesting a replacement Social Security card (in some states), the feds are getting better. For those tasks that do require an in-person meeting, the wait times aren't that bad. A recent visit to the Lancaster, PA office presented a daunting-looking packed room, but we (my client and I) scheduled an appointment and the actual wait time was less than 10 minutes for a productive meeting.