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Social Security 101 – The Basics - Forbes

Social Security is the most important retirement insurance program in the United States, with over 65 million beneficiaries. For the most part, those beneficiaries are retired workers who have earned their monthly payment, but spouses, survivors, and dependent children can also get benefits if they meet eligibility criteria. Importantly, Social Security was never intended to be one’s sole source of income during retirement, but was designed during the Great Depression as an anti-poverty program, and without which more than 22 million more people would be living in poverty today. So how does this crucial American social insurance program work? Well, this Forbes article by Rae Hartley Beck not only explains how it works but also provides insight into why the program was created in the first place, who can get benefits (and who cannot) and, as an extra bonus, how the Supplemental Security Income (SSI) program helps needy Americans who may not be entitled to regular Social Security benefits. Click here to read more.

Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. Learn more about it here…

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