LATEST NEWS

7 Tips for Using Online Social Security Statements

Social Security statements are now available online for workers age 18 and older. You can get an estimate of the retirement or disability benefits you could receive, or how much your children will get if you pass away. The online statements also allow you to find out how much money you've earned over your career and the amount you've paid into Social Security and Medicare. Here's how to make the most of this new online tool:

Be prepared to verify your identity. To get access to your Social Security statement online, you'll have to answer a series of personal questions based on information on file with the credit reporting agency Experian and the Social Security Administration. Be prepared to answer questions about previous residences, financial products you own, and provide your Social Security number. These questions are meant to verify your identity and protect your personal information.

Sign up for text-message alerts. You will receive a paper letter and e-mail when you create a Social Security online account. For an additional level of security, sign up to receive a text message each time someone logs into your account.

Print out your statement. The Social Security Administration suspended the mailing of annual paper statements in April 2011 to save money. Paper statements will now be mailed only to people age 60 and older who haven't yet signed up for benefits, 25-year-olds, and people who are unable to use the online tool. Consider printing out your statement once a year for your records.

Check your earnings record. Your Social Security payments are calculated based on your 35 highest-earning years in the workforce. Your Social Security statement lists how much you earned in each year of your career. Make sure your earnings are accurately recorded in your Social Security record so that you will get the full benefit you have earned.

Use the tool to make retirement decisions. The online statements provide an estimate of the monthly payment you can expect to receive at age 62, at your full retirement age, and at age 70. Benefit amounts increase for each year you delay claiming between ages 62 and 70. Use this information to make a decision about when to sign up for Social Security benefits.

Plan for the unexpected. Take note of the monthly payment you will receive if you become disabled and can no longer work, and how much your spouse or children will get if you die.

Log in around your birthday. Online statements will be updated annually as new earning information is received. Michael Astrue, Commissioner of Social Security, recommends checking your online statement at the same time each year, such as around your birthday.

Twitter: @aiming2retire



More From US News & World Report

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
  • Equities tumble as negative global cues spook investors IANS - 19 minutes ago

    Mumbai, Jan 21 (IANS) After three weeks of consistent gains, key Indian equity indices were pulled lower during the trade period ended Friday due to negative global cues, broadly weak quarterly results ... … More »

  • Petrol prices cross 2013 peaks, but political opposition missing IANS - 3 hours ago

    New Delhi, Jan 21 (IANS) In February 2013, opposition parties, notably the Bharatiya Janata Party (BJP), took to the streets in protest as the price of petrol in the national capital spiralled to Rs 69.06. The BJP will not take this lying down," … More »

  • NPCI advises PhonePe App to comply with UPI guidelines IANS - 20 hours ago

    New Delhi, Jan 20 (IANS) The National Payments Corporation of India (NPCI) on Friday directed mobile phone e-wallet PhonePe to comply with the UPI (Unified Payments Interface) guidelines. The development comes a day after the NPCI advised lending … More »

  • Railways-Jharkhand JV agreement to speed up projects IANS - 21 hours ago

    New Delhi, Jan 20 (IANS) The Indian Railways on Friday entered into an agreement with the state government of Jharkhand to form a joint venture (JV) company to speed up the development of railway infrastructure projects in the state. According to … More »

  • Canara Bank net soars 279% in Q3 IANS - 22 hours ago

    Bengaluru, Jan 20 (IANS) State-run Canara Bank on Friday reported a whopping 279 per cent jump in net profit of Rs 322 crore for the third quarter (October-December) of fiscal 2016-17 from Rs 85 crore ... … More »

  • Over 12,000 crore bids received for Reliance Mutual CPSE ETF IANS - 22 hours ago

    Chennai, Jan 20 (IANS) Reliance Nippon Life Asset Management (Reliance Mutual Fund) has received around Rs 12,000 crore worth of bids for the further fund offer (FFO) in Central Public Sector Enterprises Exchange Traded Fund (CPSE ETF), a top … More »

  • Cash flow to be normal soon, cut in online charges: Patel IANS - 22 hours ago

    New Delhi, Jan 20 (IANS) Cash flow, restricted post-demonetisation, will normalise soon but might take longer in rural and remote areas, Reserve Bank of India (RBI) Governor Urjit Patel informed a parliamentary panel on Friday. He further asserted … More »

  • Cooperative banks barred from accepting deposits under PMGKY IANS - 23 hours ago

    Pradhan Mantri Garib Kalyan Yojana (PMGKY). "Application for the deposit in the form of Bonds Ledger Account shall be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 1949, applies," a Finance … More »

  • Negative global cues, disappointing results drag equities lower IANS - Fri 20 Jan, 2017 6:04 PM IST

    Mumbai, Jan 20 (IANS) Negative global cues, along with disappointing quarterly results and a weak rupee, dragged the Indian equities markets lower on Friday. Besides, investors remained cautious ahead ... … More »

  • Adani Power Q3 consolidated net loss at Rs 325 cr IANS - Fri 20 Jan, 2017 5:26 PM IST

    Mumbai/Ahmedabad, Jan 20 (IANS) Private power producer Adani Power on Friday reported a consolidated net loss of Rs 325.27 crore for the quarter ended December 31, 2016. The country's largest private thermal power producer had reported a net profit … More »

  • Motherson Sumi launches $600 mn open offer for Finnish PKC Group IANS - Fri 20 Jan, 2017 4:52 PM IST

    Mumbai, Jan 20 (IANS) Specialised automotive component manufacturer Motherson Sumi Systems (MSSL) has launched a bid to acquire Finland-based wiring harness major PKC Group through an open offer worth Euro 571 million (more than $600 million or more … More »

  • Negative global cues drag equities lower IANS - Fri 20 Jan, 2017 4:42 PM IST

    Mumbai, Jan 20 (IANS) Negative global cues, along with profit booking and a weak rupee, dragged the Indian equities markets lower on Friday. Besides, investors remained cautious ahead of US President-elect ... … More »

  • Microsoft launches 'Azure Analysis Services' IANS - Fri 20 Jan, 2017 1:52 PM IST

    New Delhi, Jan 20 (IANS) Microsoft on Friday announced the public preview of 'Azure Analysis Services', a latest addition to company's Cloud platform to simplify data analysis. Azure Analysis Services ... … More »

  • 'Teavana' to double tea sales in India: Tata Starbucks IANS - Fri 20 Jan, 2017 1:50 PM IST

    New Delhi, Jan 20 (IANS) With its coffee beverage business already at peak, global coffeehouse chain Tata Starbucks aims to double tea beverage sales with the launch of its global flagship tea brand "Teavana" in the country, says the company's chief … More »

  • Profit booking drags Indian equities lower IANS - Fri 20 Jan, 2017 1:44 PM IST

    Mumbai, Jan 20 (IANS) Profit booking, coupled with negative global cues and a weak rupee, dragged the Indian equities markets lower during the mid-afternoon trade session on Friday. Besides, investors ... … More »

  • 8 Warren Buffet quotes and how you can use them Simplus Information Services - Fri 20 Jan, 2017 12:13 PM IST

    America is home to many leading lights in various fields. One such notable person is Warren Edward Buffet. Warren Buffet is a famous business tycoon and a philanthropist. He is often featured in lists of the world’s wealthiest people. His finances … More »

  • Budget 2017: 10 things that would provide relief from demonetisation Simplus Information Services - Fri 20 Jan, 2017 11:55 AM IST

    Finance minister Arun Jaitley will make the budget speech in the Lok Sabha on 1 February 2017. In the backdrop of demonetisation, there is a general anticipation of lower taxes. The government may try to thank the people for putting up with … More »

  • Selling pressure pulls equities lower IANS - Fri 20 Jan, 2017 10:24 AM IST

    Mumbai, Jan 20 (IANS) Indian equities markets trade on a negative note during the early morning trade session on Friday, as heavy selling pressure was witnessed in banking and IT stocks. The wider 51-scrip ... … More »

  • Banks told to report deposits over Rs 10 lakh a year IANS - Thu 19 Jan, 2017 10:44 PM IST

    New Delhi, Jan 19 (IANS) In yet another measure related to the recent demonetisation, the government has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card … More »

  • CCI imposes penalties on 7 cement companies for bid-rigging IANS - Thu 19 Jan, 2017 10:16 PM IST

    New Delhi, Jan 19 (IANS) Fair play regulator Competition Commission of India (CCI) on Thursday said it has imposed penalties on seven cement companies for bid-rigging. "The bid-rigging has been established from quoting of unusually higher rates in … More »

  • NPCI advises ICICI Bank to open UPI transactions through PhonePe App IANS - Thu 19 Jan, 2017 10:08 PM IST

    New Delhi, Jan 19 (IANS) The National Payments Corporation of India (NPCI) on Thursday said it has advised lending major ICICI Bank to 'open UPI (Unified Payments Interface) transactions' through mobile phone e-wallet PhonePe App immediately. The … More »

  • India clears six FDI proposals worth Rs 1,186.50 cr IANS - Thu 19 Jan, 2017 9:04 PM IST

    New Delhi, Jan 19 (IANS) The central government on Thursday cleared six foreign direct investment (FDI) proposals worth Rs 1,186.50 crore. According to the Ministry of Finance, the government approved ... … More »

  • Less optimistic than markets about top Indian companies: Fitch IANS - Thu 19 Jan, 2017 7:34 PM IST

    New Delhi, Jan 19 (IANS) Ratings agency Fitch has said it is less optimistic than the markets in its growth projections about top Indian companies. According to Fitch Ratings and India Ratings and Research which is part of the Fitch Group, they are … More »

  • Coca-Cola India announces new organisation structure IANS - Thu 19 Jan, 2017 7:02 PM IST

    New Delhi, Jan 19 (IANS) Beverages multinational Coca-Cola's Indian arm on Thursday said it will introduce a new organisation structure in keeping with the economic reforms being undertaken in India. "To lead this change, Shehnaz Gill, a 12-year … More »

  • India can boost exports by $5.5 bn by cutting trade costs: CII IANS - Thu 19 Jan, 2017 7:00 PM IST

    New Delhi, Jan 19 (IANS) Industry chamber CII on Thursday said that its recent survey reveals that reducing costs of trade through digitisation, inland infrastructure development and an efficient regulatory environment across four high-growth trade … More »

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    17.35+0.19+1.11%
    SUZLON.BO
    34.30-4.45-11.48%
    ADANIPOWER.BO
    27.40+3.35+13.93%
    RUCHISOYA.BO
    9.89-0.38-3.70%
    JPASSOCIAT.BO
    71.40+2.05+2.96%
    IDEA.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    24.60+4.10+20.00%
    CHANDRAP.BO
    15.95+2.65+19.92%
    SRL.BO
    40.10+6.65+19.88%
    ARSHIYA.BO
    29.95+4.95+19.80%
    ACFSL.BO
    102.15+15.25+17.55%
    GPIL.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    37.15-9.25-19.94%
    ABHIINFRA.BO
    34.30-4.45-11.48%
    ADANIPOWER.BO
    46.45-4.80-9.37%
    FMNL.BO
    81.05-7.75-8.73%
    KALPACOMME.BO
    17.84-1.68-8.61%
    INVENTURE.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Yahoo Cricket