Do This Now and Keep Your Social Security Safe
Social Security pays benefits to tens of millions of Americans, and just about everyone expects to get monthly checks from the program at some point during their lives. By making money available to those who retire or become disabled as well as to their families, Social Security has become a cornerstone of financial planning across the nation.
Understanding exactly what you can expect from Social Security can be really difficult. However, the federal government realizes how complicated Social Security is, and so the Social Security Administration (SSA) has made an informative statement available to everyone. Your Social Security statement can answer key questions about your benefits and what you can expect, and it's also essential to review it from time to time to ensure that there aren't any mistakes that could cost you money in the long run.
The most important part of your Social Security statement is the section that goes over the benefits you can expect. You'll get a summary of how much in monthly payments you can expect if you wait until your full retirement age before claiming benefits. You'll also see how your benefit would be reduced if you take early benefits at age 62, as well as how much more you'd get by delaying your benefits until age 70. You'll also get information about how much you'd get from Social Security disability if you become disabled.
Source Fool.com
