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How to Check Your Social Security Statement (And What the Numbers Actually Mean)

newsfeedback@fool.com (Matt Frankel, CFP)
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⚡ Quantum Brief
The Social Security Administration no longer mails annual statements, leaving many Americans—particularly younger workers—unaware of their benefits. Certified Financial Planner Matt Frankel explains how to access this critical financial document online. Your statement details projected monthly benefits at different retirement ages (62, full retirement age, and 70). Frankel emphasizes these estimates are based on current earnings and help plan for income gaps in retirement. Earnings history is a key section; errors can reduce future benefits. Frankel advises verifying annual income records and correcting discrepancies promptly through the SSA’s online portal. The statement also shows taxes paid into Social Security, which determines eligibility. Frankel notes this section clarifies whether you’ve earned enough credits (40 required) for full benefits. Frankel warns that ignoring the statement risks underestimating retirement income. He recommends checking it annually, especially for those decades from retirement, to adjust savings strategies accordingly.
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By Matt Frankel, CFP – Mar 14, 2026 at 8:11AM ESTEver since the Social Security Administration stopped mailing annual statements a few years ago, many Americans -- especially those not yet at retirement age -- haven't been reading theirs. In this video, Certified Financial Planner® Matt Frankel walks you through how to find your Social Security statement and the most important information to pay attention to. *Stock prices used were the morning prices of March 11, 2026. The video was published on March 14, 2026. Read NextMar 14, 2026 •By Dana GeorgeThese Are the Top 10 Best Places to Retire According to The Motley FoolMar 14, 2026 •By James BrumleyThis Is the Average Social Security Benefit for Age 62Mar 14, 2026 •By Maurie BackmanA Surprise Social Security Tax Bill Could Be Waiting for You in Retirement. Here's How to Avoid It.Mar 13, 2026 •By Kailey Hagen, CFPThis Savings Strategy Could Drastically Cut Your Tax Bill in RetirementMar 13, 2026 •By Maurie BackmanIs This the Most Overlooked Retirement Account?Mar 13, 2026 •By Kailey Hagen, CFPRetiring Early Is a Mistake If You Haven't Done These 2 ThingsAbout the AuthorMatt Frankel, CFP, is a contributing Motley Fool stock market analyst specializing in the real estate and financial sectors. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, Globe St, The National Desk, and other TV networks and publications for his real estate, financial, stock market, and investing expertise.TMFMattFrankelX@MattFrankelCFP

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