Social security refers to saving funds in a bid to use them when one retires. Retirement almost always occurs due to old age or disability and it provides an assurance that you will still have some funds to support you even when you are out of work.
Social security retirement benefits are a big boost for anyone who is retired. With no source of income social security retirement benefits provide you with a starting ground towards your future. There is really no standard time allocated for application of social security but if you have an income and are within a certain age, usually dictated by the country of residence, you may need to start thinking of social security retirement benefits.
If you are employed it means social security taxes are deducted from your salary monthly. To know how much social security retirement benefits you have accumulated, you can get the estimate of your social security retirement benefits by visiting your local social security office or by giving them a call. The social security company also sends out statements yearly in order to give updates on funds accumulated in your social security retirements benefits.
While paying out social security retirement benefits keep in mind that the longer you work, the higher your social security retirement benefits will be. So if you have an estimate of your social security retirement benefits it is easier for you to plan your future accordingly with knowledge of how much money you would receive monthly. You will also be able to know any benefits you would get in old age/retirement, if any.