Published November 02, 2011
Most Americans watch their money go into the Social Security trust fund in the form of payroll deductions as soon as they begin working, when retirement seems a long way off. As a result, many go through their working lives without giving it much thought.
Here are a few facts everyone should know about Social Security benefits before making any decisions about retirement.
For most people, Social Security is one component of retirement income -- one leg of the so-called three-legged stool.
Pensions are another component, but these days few workers get a pension. The last leg would be personal savings, whether in a 401(k) plan, IRA, an investment account or savings account.
Copyright 2011, Bankrate Inc.