​How To Get The Most From Social Security Retirement​​

By: | 03/14/2013 05:34 PM ET

How To Get The Most From Social Security - If you’re a young worker, Social Security probably seems like a lifetime away, and you may wonder how the program works after paying into it for most of your life. Your contributions are being counted, even though retirement is several decades away. We’ll discuss more about the program in this section.

By working in a job covered by Social Security, you are earning disability and survivor insurance protection. For example, a worker under age 24 paying Social Security taxes for as little as 1 1/2 years may be insured for disability and survivors benefits.

If you’re like most workers, you probably don’t have private long-term disability insurance. But you do have disability protection through Social Security, which provides coverage to you and your family if you become disabled.

About 1 in 4 of today’s 20-year-olds will become disabled before reaching age 67 — so it could happen to you.

The average disability benefit paid in 2012 to a worker with a spouse and two children is $1,892 a month.

Social Security also provides valuable survivors benefits.

It is a sad truth that about 1 in 8 young Americans can expect to die before reaching age 67.

Social Security’s survivors insurance pays an average monthly benefit in 2012 of $2,543 for a spouse and two children of a young worker with average wages who dies.

Social Security provides you and your family with protection now. But it’s good to think ahead to retirement, too.

Young workers, spring into action and learn more about your own retirement.