Nowadays, there are more than 71 million Americans receiving Social Security benefits. Many of them are receiving retirement benefits, while others are on disability benefits or even Supplemental Security Income.
If you have just arrived in the United States, there are some essential things you should learn about. For example, you must work in jobs covered by Social Security to get retirement benefits.
Then, once you are eligible and reach the age to retire, you can collect monthly payments. Although seniors can file for retirement benefits at the age of 62, you should know that this can reduce the amount of your monthly payments.
WILL RETIREMENT BENEFITS IN THE USA REPLACE ALL MY INCOME?
According to the Social Security Administration, they may not replace all your income. That is why it is important to look for alternative ways to get money in retirement. Knowing how to increase your benefits will be helpful too.
For example, you need to know that to get Social Security payments as a retiree you must have worked for at least ten years. This does not mean that you can receive a decent check.
When you work, make sure you pay taxes to Social Security. Check your annual statement to see that there are no mistakes. If you find any, report it because it can affect your retirement benefit amount.
In 2024, you need to have $6,920 of earnings to get one year of work. Or what is the same, 4 work credits. For your information, you will need 40 work credits or about 10 years of work to get retirement benefits.
HOW CAN I CHECK IF I AM ELIGIBLE FOR SOCIAL SECURITY BENEFITS?
The Social Security Administration has a website available to do so. All you have to do is answer several questions to check your eligibility for retirement benefits. It will only take you up to 10 minutes.
There is a possibility to receive Social Security benefits if you have never worked. For example, if your spouse is receiving retirement benefits and he or she passes away, you may qualify for survivors benefits on his or her record.
So, apart from working and being at least 62 years of age, there are other ways to get benefits. If you have a disability and have paid enough taxes to SSA you may also get SSDI.
Low-income people may also be eligible for Supplemental Security Income while they are on retirement benefits. So, there are many options you can explore. Do not forget about SNAP benefits, they give you free money for food.
