Simplifying Social Security Benefits

I heard some amazing news from the Social Security Administration: In the next 20 years, 80 million boomers are expected to apply for Social Security benefits—at the rate of 10,000 per day.

It's no wonder that working Americans are concerned about the future of Social Security, and whether there will be enough money in the fund to pay the kind of Social Security benefits that current retirees receive.

In addition to worries about whether or not Social Security will be solvent when you retire, there's the question about how much money you could expect to receive in Social Security benefits, based on the current system. This is where the Social Security benefits calculator comes in handy.

Then you have to determine when to apply for Social Security benefits. The Social Security break-even calculator will help you decide if it makes more financial sense to start receiving benefits as soon as possible (at age 62), or whether you'll make more money in the long run by putting retirement off for a few extra years.

And with 10,000 boomers applying for Social Security benefits every day, you can imagine how hard it could be to make an appointment with a Social Security representative to complete your application. Not to worry...you can skip a trip to your Social Security office—and those long lines—by applying for Social Security benefits online. The process has been streamlined, and it shouldn't take you more than 20 minutes from start to finish.