Social Security

By
Nancy Ashburn
Nancy AshburnFinancial Writer/Fact Checker

As a 30+ year member of the AICPA, Nancy has experienced all facets of finance, including tax, auditing, payroll, plan benefits, and small business accounting. Her résumé includes years at KPMG International and McDonald’s Corporation. She now runs her own accounting business, serving several small clients in industries ranging from law and education to the arts.

Fact-checked by
Jennifer Agee
Jennifer AgeeCopy Editor/Fact Checker

Jennifer Agee has been editing financial education since 2001, including publications focused on technical analysis, stock and options trading, investing, and personal finance.

Social Security is a government program that provides benefits to those who are retired, faced with sickness and disability, have lost a spouse, or are unemployed. The program is funded by payroll taxes. A portion of your paycheck is withheld for Social Security.