Get Your Social Security Statement Online

social security statement onlineOnce a year my wife and I each receive in the mail our Social Security Statement. It shows us our earnings record for both social security and medicare. And it gives us an estimate of our future social security benefits depending on when we decide to retire.

Recently the Social Security Administration made these statements available online. It took me about 2 minutes to register. The process is a lot like getting your credit score online. For example, you have to answer a series of multiple choice questions about your finances (e.g., mortgages you may have, old car loans, age of your home) to verify your identity. Once registered, you get access to all the same information you receive in the mail once a year.

In my case, my earnings record goes all the way back to 1982. I made $673 that year. It’s important to check your earnings statement for errors. And SSA has a way for you to report errors online.

The estimated social security benefits depend on when you plan to retire. The online statement shows three benefit levels, based on early retirement (62), full retirement (67), or late retirement (70). For me, the difference is significant, with nearly a $1,500 difference in benefits per month between age 62 and 70.

If you want to get your statement online, you can do so at the following social security website.

Topics: Retirement Planning

2 Responses to “Get Your Social Security Statement Online”

  1. DailyObserver

    Estimating the cost of living for the average person retiring at 62, 67 and 70, and taking into account the annual rate of inflation, by the time you retire at age 70, believing that you worked longer to get more in actual SS dollars, the buying power of that extra cash after you’ve delayed retirement by between 3 to 8 years may not be much more than if you had retired earlier at a lower rate at lower inflation. Something to think about if you would rather be enjoying those years rather than working, unless unless of course you love what you do and see work as a way to add enjoyment and vitality to life.

    • SS benefits get adjusted for inflation. Granted it may not track perfectly; however, the benefits of delaying retirement should remain despite inflation.

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