Alright. Planning is the key to creating your best retirement. You'll need to plan and save for years to achieve your retirement goals.
Are you aware of the many factors that affect retirement planning?
Yes, I suppose so.
Then you should know that we want you to understand what Social Security can mean to you and your family's financial future.
Do pensions and taxes have any impact on my retirement benefit?
Yes, pensions and taxes could make an impact on your benefits and you should review the resources on pensions we have provided.
Sounds good. Now, how do the retirement benefits work exactly?
Social Security replaces a percentage of a worker s pre-retirement income based on their lifetime earnings. The portion of your pre-retirement wages that Social Security replaces is based on your highest 35 years of earnings and varies depending on how much you earn and when you choose to start benefits.
Can you tell me on where can I check the status of my application for my retirement benefits?
You will receive a letter in the mail with our decision.
I'd also like to find out more about retirement benefits. Is there anything else I should think about in my plan besides social security?
Remember, on average, retirement beneficiaries receive 40% of their pre-retirement income from Social Security.
What does this mean when creating my retirement plan?
Knowing the approximate amount you will receive in Social Security benefits can help you determine how much other retirement income you'll need to reach your goals.
What about my taxes? Are they put on a savings account to ensure the safety of my retirement benefits?