Social Security is an important part of retirement for many people. Many people plan, or hope, to receive about 30% of their current earnings in the form of a supplement to help them retire.

That is a lot of faith to place in something that you have little control over. Read more to understand the big picture involving Social Security.  


The choices you make right now will determine how much money you have to live on every month after you retire. 

Forced to retire, some take Social Security early
From Associated Press, Aug. 9, 2010

MIAMI – Paul Skidmore's office is shuttered, his job gone, his 18-month job search fruitless and his
unemployment benefits exhausted.

Social Security COLAs since '75
The government paid no COLA's for the years 2009 & 2010. Now every COLA after that helps less. This is bad news for retired people.

    

Social Security fund will be drained by 2037
From Washington Times Jan. 27, 2011

WASHINGTON — Social Security’s finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement...

The Social Security Claiming Guide
From the Center for Financial Literacy at Boston College