If you live in Orlando or anywhere in Florida, there’s a good chance you’ve overlooked one of the most important financial planning tools available. Your Social Security statement!
Whether you’re in your 30s raising a family, or approaching retirement in your 60s, understanding your Social Security benefits is crucial for protecting your income and planning for the future.
What Is a Social Security Statement?
Your Social Security statement is a snapshot of:
- Your earnings history
- Estimated retirement benefits at age 62, full retirement age, and age 70
- Your potential disability income if something unexpected happens
- Survivor benefits your family would receive if you passed away
It’s a key piece of your financial plan, but most people have never even looked at it.
Why It Matters for Florida Families in Their 30s, 40s, and 50s
As a financial advisor based in Orlando, I often meet couples who are juggling mortgages, student loans, and childcare and they think Social Security won’t matter for decades.
Here’s why that’s a mistake:
It’s Not Just About Retirement
Your Social Security benefits include disability and survivor income. Real protection for your household if something happens to you. These benefits can be especially meaningful for families with children.
Earnings History Mistakes Are Common
SSA bases your future benefits on your earnings history. I’ve seen several Florida clients discover missing or incorrect income that could reduce their retirement income, but if caught early, it’s fixable.
Peace of Mind
Knowing what you’d receive from Social Security in different scenarios allows you to make smarter decisions about:
- Life and disability insurance
- Emergency savings
- Long-term retirement goals
How to Check Your Social Security Statement
It only takes 10 minutes. Here’s what to do:
- Go to SSA.gov
- Click “Get a benefits estimate”
- Create your my Social Security account
- Download your latest statement
Tip: If you have a credit freeze, you may need to lift it temporarily for verification.
What You’ll See
Once inside your account, you’ll have access to:
- Your full earnings history
- Estimated retirement benefits
- Disability benefit estimates
- Survivor benefits for your spouse or dependent children
This is financial protection most families don’t even realize they already have access to.
Local Insight: How Florida Taxes Social Security
One of the big benefits of living in Florida? The state doesn’t tax Social Security income.
This makes your benefits go further in retirement and it’s an important reason why retirement planning in Florida should take full advantage of your Social Security strategy.
When Should You Review Your Statement?
At minimum:
- Annually, to check for errors and keep up with updated projections
- After major life events (marriage, birth of a child, job change, divorce)
- Before making insurance, investment, or retirement decisions
Final Thoughts
If you’re serious about building a secure financial future in Florida, reviewing your Social Security benefits is essential.
Whether you're a growing family, a busy professional, or preparing for retirement, your Social Security statement plays a role in nearly every major financial decision.
Need help making sense of your benefits or fitting them into your broader plan? I help Florida families make confident, informed financial decisions every day.
