What is the role of Social Security in retirement planning, and how does it fit into my overall retirement strategy?

Social Security can play a significant role in retirement planning for many people. It provides a steady stream of income that can help cover essential expenses, such as housing, food, and healthcare. The amount of Social Security benefits you receive is based on your work history and earnings over your lifetime, so it's important to work for a certain number of years to be eligible for benefits.

To determine your estimated Social Security benefit amount, you can create an account on the Social Security Administration website and review your earnings history and estimated benefit amounts. It's also important to consider how Social Security fits into your overall retirement strategy, including other sources of retirement income and expenses, to ensure you have a comprehensive plan in place.