Member-only story

Feng Shui Your Financial House

Check Your Social Security Contributions Even If You’re Young

You don’t want to be cheated later

Mariko O. Gordon, CFA

--

Today’s financial feng shui task:

Find out what’s coming to you in retirement.

You’re working hard, and in many countries, some of your income is deducted by the government for your old age.

Check that The Authorities are doing it right. Find out what’s being accrued and what it will mean for your retirement.

If you’re just starting in life, check for errors.

It’s much easier to catch and correct mistakes when memory and proof are within reach. Try fixing an error 40 years after the fact — it’s not pretty. This way, you ensure you get full credit for whatever contribution you’ve made.

When you are young, your retirement benefits may look like a pittance, but don’t get discouraged. Remember that you have years of earnings ahead of you, likely at a higher rate, and your retirement estimates will also increase.

--

--

Responses (1)