If there's one number most people have memorized, it's their
Social Security number. But most Americans don't know the hidden
secrets behind those nine digits.
In the following video, Dan Caplinger, The Motley Fool's
director of investment planning, unravels the mystery of the
Social Security number. Dan notes that until recently, the first
three digits pointed to the area of the office that issued the
number. The middle two digits corresponded to sequential
grouping, although the order in which those numbers were assigned
included some interesting quirks.
Dan points out that now, though, Social Security numbers are
randomized. That is helpful to prevent identity theft, but it
presented challenges for financial institutions from
Bank of America
on down to the smallest local banks in verifying customer
identities. With randomization, much of the mystique of the
Social Security number has disappeared.
The number you should really care about
As interesting as Social Security numbers are, the key figure
you have to look at is the monthly benefit you'll receive from
the program. In our brand-new free report, "
Make Social Security Work Harder For You
Make Social Security Work Harder For You," our retirement
experts give their insight on making the key decisions that
will help ensure a more comfortable retirement for you and your
Click here to get your copy today.
owns warrants on Bank of America. The Motley Fool recommends Bank
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