QUICK TIP: Why you need to check your Social Security statements now

Michael Finney Image
Tuesday, January 7, 2020
QUICK TIP: Why you need to check your Social Security statements now
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Even if retirement is decades away, you need to check your Social Security account now.

SAN FRANCISCO (KGO) -- Even if you're young, it's important to check your Social Security account at least one time a year. Do you know why? Michael Finney has another 7 On Your Side Quick Tip for you!

Once you understand how the Social Security Administration goes about its business, you'll know why you need to check up on your account. You see, Social Security decides how much money you're going to get by how much money you made. They look at your 35 highest-earning years -- they do some math, account for inflation -- and then they decide how much money you'll get. Well, how will you know if they're correct on how much money you made in 2020... when it's 2045? Or 2055? Well, you know they're correct because you're checking now.

How do you go about it? It's easy. You go online, it's very easy -- ssa.gov -- you sign up, it takes about 10 minutes, and then you pull down your figures. If the figures they have match how much you believe you've earned, there's nothing more to do. If they think you earned less than you think you've earned, you need to dig down.

Take a look at more stories and videos by Michael Finney and 7 On Your Side.

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