Wednesday, February 11, 2015

Do you know these Social Security facts

People are curious about which claiming strategy is better for them, or for how long their SS benefits will last, and how their particular situation (work history, marital status, annual income) will impacts their income stream when it comes to use the SS benefits. Knowing your Social Security stuff is a great way to be ahead of the crow.

Social Security is part of the retirement plan of almost every American worker. If you’re among the 96 percent of workers covered under Social Security, you should know how the system works, and what you should receive from Social Security when you retire.

If you stop working before you have enough credits to qualify for benefits, the credits will remain on your Social Security record. If you return to work later, you can add more credits to qualify. They can’t pay any retirement benefits until you have the required number of credits.

The number of credits you need to get retirement benefits depends on when you were born. If you were born in 1929 or later, you need 40 credits (10 years of work).

Take the quiz to find out how much you know.

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Correct Answers

  1. C
  2. A
  3. B
  4. D
  5. C
  6. B
  7. B
  8. D
  9. C
  10. C

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