My Comments: I don’t care if you are already receiving Social Security benefits or not, this is something every one of you should do. What you will find is that the Social Security website is a really good one, full of useful information and easy to navigate.
If you expect to start receiving a monthly benefit sometime in the future, it’s even more important that you do what this article says. I’ve taught workshops on Social Security, have been receiving my monthly benefit for over 10 years, am reasonable well versed in internet technology, and can say with confidence that you should establish yourself on the Social Security website.
They already know your number, your date of birth, where you live and a whole lot more. What you need to be able to do is check up on what they have credited in your name. Believe me, there will come a time when the monthly income set aside in your name is critical to your financial freedom. Don’t make it any worse by ignoring this article.
by Dan Caplinger Apr 27, 2018
Social Security plays a role in the lives of nearly every American, between the benefits that tens of millions of retirees and disabled people receive and the payroll taxes that are taken out of the paychecks of hundreds of millions of workers. These workers, their spouses, and other family members rely on Social Security benefits to protect them financially, and for many people, Social Security represents the majority of their income after they retire.
The Social Security Administration (SSA) wants everyone to know more about the benefits they’ve earned and has declared April to be National Social Security Month. So as the month draws to a close, there’s one thing you can do to make sure you get the most out of Social Security for yourself and your family.
Open an account on the “my Social Security” website
The SSA has embraced online innovation and sought to shift many of the things it used to do by paper onto its internet site. The my Social Security program is designed to help you manage your benefits effectively and efficiently while minimizing the chances of identity theft. In the past, the SSA sent out Social Security statements in the mail each and every year, but now, the agency is urging everyone to create a my Social Security account to access that information more securely on their computers or mobile devices.
Signing up for access is relatively easy. You’ll need some basic personal information in order to verify your identity, and you need an email address to set up your account. However, the process doesn’t take long.
What you can do with my Social Security
There are several things that the SSA’s online system lets you do. The most important is seeing your Social Security statement. On the statement, you’ll get information on what your estimated benefits are based on your past earnings record and assumptions about your future earnings. You’ll see how much you’ll be projected to get in monthly benefits at your full retirement age, as well as the higher monthly payments you’ll get if you wait until age 70 and the lower monthly payments from claiming earlier at age 62. You’ll also find out how much you’ll be entitled to receive if you become disabled, and learn what benefits your surviving family members will get if you pass away.
You also can access your earnings history using my Social Security, which provides the basis for estimating your retirement and disability benefits. There, you’ll see all of your earnings dating back to the beginning of your career. If you see problems, then the website gives you instructions on how to contact the SSA to correct the issue. It’s vital that this information be absolutely accurate, because your Social Security payments in retirement will be based on the 35 highest-earning years of your career after indexing for inflation.
Finally, my Social Security can help you replace missing documents. For instance, if you’ve lost your Social Security card or had it stolen, then the SSA can walk you through the process you’ll need to follow in order to get a replacement.