Social Security can be a big part of your retirement income, so it helps to know if the federal government calculated your benefits correctly.
A Social Security statement details your earnings history and estimated monthly retirement benefit. The Social Security Administration (SSA) mailed 47.9 million paper statements in the 2016 fiscal year, which ended September 2016. And more than 26 million people have a My Social Security account that allows them to check their statements online.
"Most clients don't realize the statements are not mailed each year and can't remember the last time they looked," said certified financial planner Jan Valecka, owner of Valecka Wealth Management.