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Retirement Planning

Social Security

Social Security is a government program that offers benefits for disability, death, and retirement to eligible individuals. All income is subject to Social Security tax, which is used to fund the program. Unlike other retirement accounts, personal Social Security accounts are not created and today's taxes are used to directly support current beneficiaries. Any surplus funds are allocated towards other government expenses.

Related terms

Rollover

Understand the meaning and definition of Rollover in the context of stock market, trading, and investments.

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IRA Transfer

Understand the meaning and definition of IRA Transfer in the context of stock market, trading, and investments.

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Traditional IRA

Understand the meaning and definition of Traditional IRA in the context of stock market, trading, and investments.

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