My Social Security – All you wanted to know

My Social Security Richard Connor  |  January 14, 2021

SOCIAL SECURITY is a crucial source of income for many retirees. But unfortunately, there’s also much confusion, because the ways benefits are calculated sure isn’t simple. Want to learn more? To get started, I’d suggest heading to the Social Security Administration’s website and creating a free “my Social Security” account.

For those currently receiving benefits, the website allows you to:

Verify your benefit payment amount

Get a replacement Social Security card Get a replacement Medicare card

Change your address and phone number

Start or change direct deposit of your benefit payment

Get a replacement SSA-1099 or SSA-1042S for tax purposes.

If you aren’t currently receiving benefits, you can:

Create, save and print your Social Security statement

Get estimates of future retirement, disability and survivors benefits

Review your earnings record

Review the estimated Social Security and Medicare taxes you’ve paid

Print a letter from the Social Security Administration (SSA) stating that you’ve never received benefits

The SSA’s site also offers a chance to get educated about Social Security generally, including:

How benefits are calculated

When you’ll reach your all-important full Social Security retirement age

How much your spouse might receive

How much of your benefit you might lose if you work while receiving Social Security

How long you can expect to live How important Social Security is to retirees


Source: My Social Security – HumbleDollar

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