From the course: Planning for Retirement
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Will you get Social Security?
- How does social security work? And will social security benefits even be around when you retire? And what's it worth to you? In this lesson, I'm going to dive into some of the most important things to know about social security retirement benefits. If you're employed in the US, you probably pay into social security, unless you work for the government. In which case you might not be covered by social security. You can tell by looking at your paycheck and seeing whether there's a deduction for social security taxes. If you do see social security taxes coming out of your paycheck, that means you're part of the social security system. Currently you pay 6.2% in social security from your paycheck. And when you retire or become disabled or pass away, the social security administration pays benefits to you or your survivors. As a note, there is a ton of complexity within the social security system. And there are many…
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