When I was first starting out in the workforce, once a year I would get these forms from the Social Security Administration (SSA). It talked about stuff that felt largely irrelevant to me, but it did include a listing of my gross wages every year to date.
This was the only time I considered my wages over time in aggregate.
But it turns out that that’s crucially important as far as Social Security is concerned, because it is your gross wages that are the primary determinant in how your Social Security benefit is calculated.
(In short, Social Security takes into account your highest 35 years of earnings which, when taken with your age at retirement, determines your payout. You can read more about it, but beware, it gets pretty detailed.)
The SSA doesn’t send out those forms anymore as far as I am aware. Instead, they have created a portal, called my Social Security (ugh capitalization, though it’s better than how they do TSA Pre Check), where you can log in and view everything you need to know.
To be honest, I had never done this before. So I created an account and logged in. Here’s what I found.[Read more…] about Learning about my Social Security with “my Social Security”