Understanding the basics of Social Security, even if your retirement is still decades away, is extremely vital. You simply must have a good understanding of not just when you can take out your funds but, more importantly, when you should. If you’re already in the process of planning for retirement (and you should be, no matter how old you are) knowing this information can help you to determine how much money you actually need to save.
In its simplest terms, during your working years you paid into Social Security through taxes, and built up benefits that you will receive once you reach retirement.… Read the rest