If you have been working all your life contributing the maximum to the Social Security system, you could receive over $15,000 at your normal retirement age ($24,000 for a couple). Of course, these figures will be adjusted for inflation. If you choose to start receiving your benefits before your normal retirement age, you will receive a reduced benefit. To find out how much you are entitled to, you should send for the Request for Earnings and Benefit Estimate Statement from the Social Security Administration (SSA). You can obtain a free form from your local SSA office. Its telephone number is listed in your White Pages.

If you worked for an employer who had an employee retirement plan, you might be entitled to retirement benefits. There are different kinds of plans in use today. A typical "defined benefit" plan may provide as much as 50 percent or more of your final average salary at normal retirement age (as defined in the plan document). A "defined contribution" plan will provide you with a lump sum at retirement that you can convert into retirement income.

You should contact the personnel or human resource department of your employer to get an estimate of your retirement benefits, if any.