Tips from a lending expert: Social Security Statements and how they can benefit you.

Individuals (who have paid into Social Security) above the age of 25 will automatically receive a Social Security statement in the mail from the Social Security Administration (SSA) each year. At any time, you can also request to have this statement sent to you.

Read your statement carefully to make sure that your earnings information is correct; your future benefits will be based on the recorded earnings from SSA.

This statement can also be used as a financial planning tool to help you to estimate your income in retirement, and determine how much money you will need to supplement your Social Security benefits. The statement will also give you details about your spouse’s and dependents’ possible benefits if you die, as well as your disability benefits if you were to become disabled.

Log on to and create a personal profile to view your Social Security Statement.

It provides:

  • Estimates of the retirement and disability benefits you may receive;
  • Estimates of benefits your family may get when you receive Social Security or die;
  • A list of your lifetime earnings according to Social Security’s records;
  • The estimated Social Security and Medicare taxes you’ve paid;
  • Information about qualifying and signing up for Medicare;
  • Things to consider for those age 55 and older who are thinking of retiring;
  • General information about Social Security for everyone;
  • The opportunity to apply online for retirement and disability benefits; and
  • A printable version of your Social Security Statement.
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