You'll want to take advantage of a new service and consider opening an electronic transfer account. These new low-cost accounts are available through federally insured financial institutions, including banks, savings and loans, and credit unions. Your benefits are protected and you'll enjoy safe, convenient, immediate access to your deposits. Not one Social Security direct payment has ever been lost or stolen. Consider this new option for you, or someone you know who isn't yet benefiting from direct deposit.
Personal income is up, but personal savings are at an all time low.
Many financial advisors will say that you'll need about 70 percent of your pre-retirement income to live comfortably in retirement. Along with your future Social Security retirement benefits, you'll need to accumulate enough personal savings and pension income to meet this level. Remember that age 62 is the earliest you can collect Social Security retirement benefits. But, no matter what your current age, you'll want to start thinking about your retirement future now. The Social Security Retirement Planner will help you find more information about your Social Security retirement benefits and how they will affect your retirement plans.