Why Correctly Updating Your Social Security Information is Crucial
As you go through life, your Social Security number and the information associated with it inevitably changes. It could be something as simple as a name change after getting married or something more significant, like a change of address or work status. While updating the information linked to your Social Security number may not feel like a high priority task, it is crucial to do so, and timely too. Here’s why:
Why is Updating Your Social Security Information Important?
First and foremost, keeping your Social Security information updated helps to ensure that the benefits you’re entitled to receive from the government are accurate. In the same way, accurate information becomes vital when verifying your eligibility for specific social programs or determining your eligibility for loans or mortgages, which rely heavily on credit scores.
Additionally, failing to correct many types of common Social Security mistakes, such as incorrect name spelling or birthdate, can trigger identity theft.
The Consequences of Not Updating Your Social Security Information
Not updating your Social Security information — If you’re unaware of the update requirement — can lead to problems down the road when you’re trying to collect benefits during retirement or other life events that require accurate Social Security information. At worst, these problems could lead to a delay in benefits payout or, at best, reduce the amount received.
It’s essential to keep in mind that some information is more sensitive than others and will put you at more significant risk than that of misplaced payment or low payout. A simple typo or negligence can cost you significantly, and the longer it takes to rectify the mistake, the more complicated the process becomes.
How to Update Your Social Security Information
Suppose you are not currently collecting Social Security payments from the government. In that case, you can update your personal data quickly either online at the Social Security Administration’s website or by calling the administration’s 1-800 number. When doing it online, you will need to create a My Social Security account online, which you can access at any time to check and update your information.
Alternatively, suppose you are already collecting Social Security benefits from the government, in that case, they will automatically update your personal information using data from the IRS.
Final Thoughts
Correctly updating your Social Security Information is essential, and although it may seem like a relatively trivial task, doing so will save you future headaches. Keeping tabs on your Social Security information and accessing it when necessary will also help you stay informed about your retirement benefits, and in case of disability, or sudden death, the process will become simple and fast.
Remember, in using Social Security Administration’s online portal, you are in control of some of the most sensitive personal data, so it’s essential to take the necessary measures to protect your identity while online. By doing so, you can enjoy the peace of mind of knowing that your Social Security information is up-to-date, accurate, and secure.
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