{"id":353933,"date":"2023-10-18T13:02:06","date_gmt":"2023-10-18T18:02:06","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/socialsecurity\/retirement-planning\/social-security-and-retirement-resources.html"},"modified":"2026-02-12T15:55:35","modified_gmt":"2026-02-12T20:55:35","slug":"social-security-and-retirement-resources","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/socialsecurity\/retirement-planning\/social-security-and-retirement-resources.html","title":{"rendered":"Social Security and Retirement Resources"},"content":{"rendered":"\n
\n

Social Security and Retirement Resources<\/h1>\n\n
\n
\n By Jennifer Steinberg, Esq.<\/a> | Legally reviewed by Jennifer Steinberg, Esq.<\/a>\n | Last reviewed\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
\n

This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
\n

The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

\n

Consider your Social Security retirement benefits a supplement to your retirement income. Your benefits will depend on many factors, including how long you paid taxes into the system and when you begin receiving your benefits. You can use many resources to understand your benefits.<\/p>\n\n <\/div>\n\n\n\n

Don’t count on your monthly benefit as your sole source of income after you retire. For other sources of retirement income, you should contribute to a retirement plan, like an Individual Retirement Account (IRA). You may also want to increase your contributions if you have an employer-sponsored retirement plan.<\/p>\n

Read on for resources and information about Social Security benefits and retirement plans. You will also find budgeting resources to make your money work for you.<\/p>\n

For more information, see FindLaw’s\u00a0Retirement Planning<\/a>\u00a0and\u00a0Social Security Basics<\/a> sections. You can also get personalized advice from a lawyer<\/a> with experience in retirement-related issues. The more knowledge you have, the better you can plan for retirement.<\/p>\n

How Social Security Works<\/h2>\n

Social Security is a federal insurance program that provides benefits to retirees. It also provides benefits to disabled individuals who can’t work. It pays spousal and survivor benefits to family members, too. Your Social Security taxes fund the program.<\/p>\n

The government bases your retirement eligibility on your yearly earnings record. The Social Security Administration (SSA) converts these earnings into\u00a0retirement credits<\/a>. The SSA then\u00a0applies a formula<\/a>\u00a0based on your lifetime earnings and age. This formula determines your total monthly Social Security benefit amount.<\/p>\n

You can wait until full retirement age to collect 100% of your benefits. Your other option is to retire early, reducing your benefit amount. If your income exceeds a certain amount, you may have to\u00a0pay federal income taxes<\/a>\u00a0on your benefits.<\/p>\n

How To Understand Your Social Security Benefits<\/h2>\n

Because benefits depend on each person’s eligibility, there’s no universal amount you can expect to receive. To plan for retirement, you’ll need to estimate your future benefits. You should also stay aware of factors that affect the amount and your eligibility.<\/p>\n

The following resources can help you better understand Social Security programs and benefits:<\/p>\n