If you're a young worker, retirement is probably the last thing on your mind. But there are some basic facts you should know about Social Security and savings to plan for your retirement.

Social Security is the foundation for a secure retirement, but it was never intended to be your only source of income when you retire. While Social Security replaces about 40 percent of the average worker's preretirement earnings, most financial advisers say that you'll need 70 percent or more of preretirement earnings to live comfortably. Even with a pension, you will still need to save. If you will not have a private pension, you'll need to save more -- and start saving sooner. Today's young workers can expect to spend 20, 30 or even more years in retirement, so saving is critical.

The sooner you start to save, the more time your savings will have to grow. Saving may not be easy, but whether you're able to save $5 or $500, it's in your interest to start saving now.

Do you want to start planning your future now? There are some easy ways to do so. Take a look at your Social Security statement, which you'll receive in the mail about two to three months before your birthday. Along with your annual statement, workers between the ages of 25 and 35 will receive a helpful insert that provides information about Social Security, savings and other items of interest.

Want something more interactive? Visit Social Security's online Retirement Estimator at www.socialsecurity.gov/estimator.

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This allows you to try out different retirement scenarios based on your personal earnings record.

You also can go to www.mymoney.gov for information on getting credit, paying for education, buying a home, creating a budget, starting a business, as well as financial calculators and planning tools.

It is important to remeber tha Social Security coverage is not just for retirement, but is also for disability and survivor benefits. For more information, go to www.socialsecurity.gov.

Question and answer

Q.: What is a Social Security "credit?"

A.: During your working years, earnings covered by Social Security are posted to your record. You earn Social Security credits based on those earnings. Each year the amount of earnings needed for one credit rises as average earnings levels rise. In 2009, you receive one credit for each $1,090 of earnings. You can earn up to a maximum of four credits per year. For 2008, you received one credit for each $1,050 of earnings. Most people need a total of 40 credits to be eligible for retirement benefits.

To learn more, visit www.socialsecurity.gov.

Anthony Renzoni is district manager of the Bridgeport office of the Social Security Administration. His column appears every Monday.