Every citizen of the United States wants to have the best retirement possible. To that end, the Social Security check is critical. If we don’t get a good monthly benefit, we may have trouble living out our golden years. In order to get the most out of our benefit, it is best to combine a Social Security check with other income.
However, a large portion of Americans do not consider this option, and they plan to live on their Social Security check alone. In these cases, planning every detail of the checks is key. The final amount we get with each monthly retirement check should be as large as possible.
And thanks to a tool that the Social Security Administration offers for free, any American can plan perfectly for retirement. Not only is it free, but we can use it at any time. It doesn’t matter if it’s a holiday or a weekend, as we have access to this tool at all times.
The Social Security Check Planning Tool
To get the best possible retirement, it is necessary to plan everything related to monthly check very well. And for this, the ideal and definitive tool is My Account from Social Security. It is a free tool that has many different uses. Not all Americans make use of this tool and they should.
Thanks to My Account we are going to be able to consult everything related to our monthly retirement benefit. Not only will we see how much our check will be in the future, but we can also find out how many years we have worked and other information.
In addition to all this, we must remember that My Account is totally free. So we have no excuse to open a Social Security account online and start working directly and effectively on our monthly retirement check.
What are the factors that affect retirement?
In order to have the largest possible check from Social Security we must take into account three different elements. These three elements interact with each other. Therefore, it is not possible to maximize one and forget another. The ideal is to increase all three elements equally in order to get a good check on a monthly basis.
These are the three elements: the retirement age, the years worked before claiming Social Security, and the salary during the time as a worker. Regarding the last two, we must recognize that they are elements that feed back on each other. The ideal years of work are 35 with a good salary.
In addition to this, choosing the right retirement age is key. If we retire at 62, our Social Security check will be too small. On the other hand, if we wait until 67 our check will be larger and we will enjoy retirement more.