If you’ve been collecting a regular paycheck in the U.S., then your employer has been deducting Social Security taxes. These deductions are typically itemized on your paystub as “FICA SS TAX”. Your employer matches these contributions and sends both portions to the Social Security Administration.
Even if you already know about this deduction, you may not have realized that information about your Social Security tax payments and future benefits are available to you online at the Social Security Administration (SSA) website.
If you have not already created your my Social Security account online, then you should do so as soon as possible. Read on to find out why you should set up an online account and how to do it.
Why do I need access to my Social Security?
You may be asking yourself, why should I set up an online account if I’m decades from collecting Social Security benefits.
The first and most pressing reason for young adults to set up your account online is to protect yourself from cybercriminals. With data breaches exposing your personal data, including Social Security Number (SSN), cybercriminals now have the information they need to set up fake accounts using your identity. Even if you don’t believe your SSN has been compromised, you should still create your online account as soon as possible.
The other reason to have an online account is so you can more easily access and manage your Social Security information, ensuring you’re prepared for your future financial needs. If you’re nearing retirement, it’s especially important to have an account so you can monitor your benefits and plan accordingly.
How do I access my Social Security?
To set up an online account with the SSA:
- Visit the SSA’s official website: https://www.ssa.gov/myaccount/
- Click on “Create an Account” or a similar link.
- Follow the instructions on the screen to provide your personal information and create your account. You’ll need your Social Security number, date of birth, and other identifying information.
You can also set up your account by phone and in-person at a local Social Security office, as needed.
There is really no reason to wait to create your my Social Security account, so consider doing it today.