Blog

Social Security provides a form of income if you are retired or cannot work due to a disability. Social Security was first started in the 1930s under the Roosevelt administration and, since then, it has become an important part of how Americans support themselves financially in retirement or if they are unable to work.

Understanding Social Security is essential for retirement planning, as these benefits represent a significant income source for most American retirees. The program encompasses retirement benefits, disability insurance, supplemental income for those with limited resources, and survivor benefits for family members of deceased workers. Benefit amounts depend on earnings history, claiming age, and individual circumstances.

This guide explores how Social Security works, the different types of benefits available, tax implications, and factors that affect benefit amounts. Whether approaching retirement age or planning decades ahead, these educational concepts provide a foundation for informed discussions with financial advisors and retirement planning professionals.

SSA stands for Social Security Administration, the independent federal agency responsible for administering Social Security programs in the United States. Established in 1935, SSA manages retirement benefits, disability insurance, survivors benefits, and Supplemental Security Income (SSI) programs. As of December 2024, about 72.9 million people received payments from one or more SSA-administered programs, making it one of the largest federal agencies by beneficiary population.

The Social Security Administration was created under the Social Security Act, signed into law by President Franklin D. Roosevelt on August 14, 1935, during the Great Depression. SSA plays a critical role in retirement security for Americans, with Social Security retirement benefits representing a foundational component of retirement income for most retirees. Beyond retirement benefits, SSA administers Social Security Disability Insurance (SSDI) for workers who become disabled, survivors benefits for families of deceased workers, and coordinates Medicare Part A and Part B enrollment beginning at age 65. For individuals aged 50-70 approaching or navigating retirement, understanding SSA programs and services is essential for informed retirement planning decisions.

This guide explores what SSA means, the programs SSA administers, how SSA services work, and SSA's role in retirement planning considerations. Whether approaching retirement age, evaluating Social Security claiming strategies, or seeking to understand how government retirement programs integrate with personal savings, these educational concepts provide essential context.