Not only is it a good way to manage your benefits, setting up your account can also help prevent your benefit payments from getting into the hands of scammers and identity thieves.
Scammers and identity thieves who have your social security number and address, for example, can go online and set up an account at “My Social Security”, unless you’ve already done so. And then, once you turn 62 the scammer can start taking your benefit without your knowledge.
According to Reuters, “A MySSA account now is the only way to obtain an estimate of future benefits, since the agency no longer regularly mails annual benefit statements. MySSA also offers the convenience of handling routine paperwork online, and the ability to update the address on file for your account or start or change direct deposit of benefits.”
To view the full Reuters article, click here: Reuters.
About the Author: Marc Girardot, MBA, CFP® is a Wealth Manager at Chastain Wealth Management. Currently, Marc is Chair Emeritus of the Kennesaw State University College of Science and Mathematics Advisory Board. A graduate of Boston University and Emory’s MBA program, Marc boasts a very impressive resume. He founded a medical device company and a commercial real estate company, has served in leadership roles for nonprofits, and was recently the interim Executive Director of Alliance Française d’Atlanta.