You are getting ready to retire and need to start thinking about what Social Security benefits are available to you.
Educate yourself on Social Security benefits and how to avoid loosing your benefits.
How does Social Security work?
You pay taxes into the Social Security system, on every paycheck, in the form of deductions from your wages. When you reach retirement age (or cannot work due to disability) you can apply for the benefits you’ve earned. The amount of the Social Security benefits you receive will depend on three things:
• The amount of time you worked at Social Security-qualifying jobs
• Your income at these jobs
• Retirement age
Basically, the longer you work (and the more money you made) the higher your Social Security benefits will be. Benefits don’t kick in automatically and you need to apply through an application process.
Types of benefits you can apply for.
There are more! Visit www.SSA.gov to explore the various benefits you can apply for.
Are you eligible for Social Security Retirement Benefits?
To apply for retirement benefits you must be 61 years and 9 months old and want your benefits to start no more than four months in the future. You need to understand the way the social security benefit system works and what is best for you.
This government booklet will help you get started in learning about retirement benefits and how/when you can apply.
There are many ways you can become disqualified from receiving your Social Security benefits when you retire. Educate yourself on Social Security now and learn how to avoid loosing your benefits.
