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A secure, comfortable retirement is every worker's dream. And now because we're living longer, healthier lives, we can expect to spend more time in retirement than our ancestors did. Achieving the dream of a secure, comfortable retirement is much easier when you plan your finances.

Your Social Security benefits are the foundation on which you can build a secure retirement. Most financial advisors say you'll need about 70 percent of your pre-retirement earnings to comfortably maintain your pre-retirement standard of living. Under current law, if you have average earnings, your Social Security retirement benefits will replace only about 40 percent, so you'll need to supplement your benefits with a pension, savings or investments.

Social Security is a compact between generations. For more than 65 years, America has kept the promise of security for its workers and their families. But now, the Social Security system is facing serious future financial problems, and action is needed soon to make sure the system is sound when today’s younger workers are ready for retirement.

Today there are almost 36 million Americans age 65 or older. Their Social Security retirement benefits are funded by today’s workers and their employers who jointly pay Social Security taxes—just as the money they paid into Social Security was used to pay benefits to those who retired before them.

Unless action is taken soon to strengthen Social Security, in just 14 years we will begin paying more in benefits than we collect in taxes. Without changes, by 2042 the Social Security Trust Fund will be exhausted. By then, the number of Americans 65 or older is expected to have doubled. There won’t be enough younger people working to pay all of the benefits owed to those who are retiring. At that point, there will be enough money to pay only about 73 cents for each dollar of scheduled benefits. We will need to resolve these issues soon to make sure Social Security continues to provide a foundation of protection for future generations as it has done in the past.

How the Social Security Retirement Planner can help you now

This planner provides detailed information about your Social Security retirement benefits under current law and points out things you may want to consider as you prepare for the future. You can use the calculators to test out different retirement ages or different future earnings amounts. If you are already near retirement age, you'll find instructions on how to apply for benefits and what supporting documents you'll need to furnish. There is also information about how members of your family may qualify for benefits with you.

Use the buttons on the side or click on the links below to check out the information you need:

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