The Social Security Administration (“SSA”)
launched its first ever National Social Security Month in April. The goal of
the celebration isn’t just to make the public more aware of Social Security’s
programs. Instead, National Social Security Month’s goal is to encourage people
to take steps towards achieving financial security in general.
To help you in achieving your goals, SSA posted an online series of messages from personal finance expert, Suze Orman. These messages are designed to help you develop a financial plan that incorporates Social Security as a component of your overall financial strategies. SSA has also listed five steps to help you manage the SSA portion of your financial security. They include:
1.
Get to know your Social Security benefit (it is sometimes lower than you
expect)
2.
Verify your lifetime earnings with a “my
Social Security” account
3.
Estimate your future Social Security benefits at my Social Security
4.
Apply online for retirement, disability, or Medicare benefits
5.
Manage your Social Security benefits
Keep in mind that SSA’s retirement and disability programs were never designed to be total income replacement programs. Due to the rising costs of healthcare and housing, along with increased life expectancies, you need to recognize that you will have to develop a comprehensive financial plan that includes other types or savings or investments to supplement your Social Security benefit. You are never too young, or too old ,to start thinking about your financial health and April is a perfect time to start!
Got a question about SSDI or SSI that you need us to answer? Please check out our website at www.westcoastdisability.com . We try to provide you with helpful information on our website that will allow you to successfully navigate the Social Security Disability process. Also, feel free to email me your questions at megan@westcoastdisability.com or call me at (800) 459-3017 x 103.
