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What is the Purpose of Social Security. The purpose of social security is to strengthen and support an individual who has faced an unwanted and tragic incident in his life. This may include loss of a dear one or losing a job or a sudden accident. Keep reading to know more about its purpose.
How Social Security benefits are calculated. Without question, Social Security benefits play an important role in retirement planning. Experts often cite the three-legged stool as the foundation of a retirement plan, with the legs of the stool consisting of Social Security, employer-sponsored retirement benefits and personal savings. For many people, Social Security benefits make up a large portion of the plan. Knowing how your Social Security benefits are calculated is critical.