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Coaching and a Great Playbook Equal Success in Football and Retirement Planning(September, 2008)You only need to look at the Indianapolis Colts' Super Bowl winning quarterback Peyton Manning to understand how the secret to a successful football season can depend on a savvy quarterback and great play calling. The same is true for a successful retirement—except that you are the quarterback and you also call the plays—for example, when to retire and how much to save. Even Peyton’s younger brother, New York Giants' Super Bowl winning quarterback Eli Manning can tell you that the most talented quarterback can't rack up a Super Bowl winning performance without good coaching and a playbook. Social Security understands that the same is true when it comes to retirement planning. While you will have to call your own financial plays, we can help you decide what "play options" might be successful in any given situation. For example, how much can you expect to get from Social Security? How much more could you get if you worked a year longer? Two years? What about your spouse, if you are married? And how much should you be saving in addition to your expected Social Security benefits? All of these questions can be answered simply by visiting our Social Security website at www.socialsecurity.gov/. It's like training camp for financial planning. There you will find several financial planning tools, including our new, easy-to-use Retirement Estimator. You can use it to get quick retirement estimates based upon your own earnings record. All you have to do is provide some very basic information about yourself—your name, Social Security number, date and place of birth, your mother's maiden name, and your last year's earnings. The Retirement Estimator will then create Social Security benefit estimates, based on your entire career earnings record. The Estimator shows what you would receive in Social Security benefits if you retired at age 62, what you would receive at your full retirement age and what you would receive if you worked until age 70. Interested in other play options, such as what would happen if you made more money in the future? Or if you want to stop work at a different age than the three we show you? You can try out alternate game plans using the screens on the Retirement Estimator page, in case you change your mind about your initial retirement plans. Remember what one of football's most accomplished and respected coaches, Vince Lombardi, said: "There's only one way to succeed in anything, and that is to give it everything." So give everything you have to developing the playbook for your retirement. And the best place to begin your game plan for a successful retirement is at www.socialsecurity.gov/.
Ginny Jordan is a Public Affairs Specialist for the Social Security Administration. Her weekly column on all things Social Security appears in the Sunday Edition of the Sun-Sentinel. Ginny has agreed to let us reprint her articles here for your convenience. Thank you Ginny! December, 2008 Social Security Has Good Tidings To Share This Holiday Season Retirement Estimator Named Best Online Service in Government Medicare Part B Open Season is Approaching November, 2008 Veteran's Day and Every Day, Social Security Serves Social Security Looks to the Future Social Security Improves Disability Program with Compassionate Allowances Medicare Prescription Drug Plan Open Season Begins Nov. 15 September, 2008 Help Your Grandparents Save $3600 Leaving Work in 2009? Now's the Time to Apply for Retirement! Coaching and a Great Playbook Equal Success in Football and Retirement Planning America's Life Insurance Program August, 2008 Trying to Decide When to Retire? Make an Informed Decision! Online Information for Human Resource Managers America's Number One Protection Program Turning 18 and Getting Social Security? Turn In Your Form!
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