With our baby boomer-in-chief turning 60 earlier this summer and the baby boom generation marking that same milestone this year, we're providing a number of articles that might be useful to this noteworthy generation. This article was first published on Aug. 9, 2006.
Given the concerns about whether and when Social Security funds will run out, and how the program might be changed, it's not entirely unreasonable to think of it as Social Insecurity. Nevertheless, the program currently remains intact, and it's not a bad idea to examine what you might expect from it in retirement.
The best source of information is the horse's mouth, the Social Security Administration (SSA), at its website at www.ssa.gov.
Even if you're far from retirement, you can get a record of your Social Security earnings history detailed year by year, as well as estimates of the benefits for which you may qualify, now or later. You'll simply need to fill out Form SSA-7004, which also goes by the name "Request for Social Security Statement." You can access an electronic version of this form online at the SSA website, or you can call the SSA at 800-772-1213.
At the very least, this interesting information can facilitate a stroll down memory lane as you recall your salaries of yesteryear. You may also run across some errors, which you can work on getting fixed.
Learn more about retirement issues in our retirement area.
You can also make your life happier by building more wealth and financial comfort for yourself. Our Rule Your Retirement newsletter, for example, offers plenty of guidance to help you set yourself up for a comfy and enjoyable retirement, as well as specific investment recommendations. Try it for free and see for yourself -- it's easy to read in a single sitting.
For more Foolish reading on Social Security:
- Dueling Fools: Social Security
- Demystifying the Social Security "Crisis"
- Social Security and Your Spouse
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