Updated : Dec 31, 2019 in Articles

Social Security Benefits Online | Disability & Spousal Benefits

yo this is Johnny from Yolo fire
today’s video is on how to check your social security benefits online through
the Social Security Administration’s government website if you think Social
Security won’t be around when you are going to retire just remember it would
be political suicide to get rid of Social Security with the current
political environment like jacking up taxes on the wealthy and estate taxes
I’m confident it’ll be here to stay now why is it important to check your social
security statements like you should check your free credit reports three
times a year make sure there are no mistakes and you are getting exactly
what you’re entitled to since you pay into Social Security if you see FICA
taking out of each paycheck with your contributions from your employer and you
if you’re a w-2 employee the current rate is 6.2 percent on the first hundred
thirty two thousand nine hundred dollars in wages paid the Medicare tax rate is
one point four five percent on the first two hundred thousand and two point three
five percent above two hundred thousand to create an account and login go to
ssa.gov in the lower left you will see a link for my Social Security if you click
on that you can either log in or create an account to create an account you will
need your social security number address phone number where you can receive a
text for verification they may ask for some other questions to verify you are
you and not some hacker once you’re ready to login it will ask for a
secondary security measure in the form of an eight digit code text it to your
phone number after you log in you will see what your estimated benefits are or
will be a retirement age as you can see I blocked out some of my numbers for
privacy reasons you can see her full breakdown of estimated amounts at early
retirement currently age 62 full retirement age 67 and the age 70 this
amount also increases annually if there is a cost-of-living adjustment or Cola
when I logged in in January 2019 I was pleased to see an increase so I adjusted
my retirement spreadsheet and I’ll be making a video on that in the future now
if you don’t see your estimated benefits and may be due to you not qualifying it
by earning what they call credits once you’ve worked enough papers it should
show up as describing an FAQ here further down you can see your disability
amount spousal and child benefits as well now the real important section is
earnings record you need to make sure this is
accurate so you don’t get shortchanged and you can check this number against
your w-2s at the end of the year finally here’s the list of all the
things you can do through this social security portal so remember to review
this every year create a recurring reminder in your calendar to check this
out as well as your credit reports for any errors if not already please
subscribe to my channel as always this video is for entertainment and not
professional financial advice

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