Social Security eligibility requirements are something you had better know like the palm of your hand. Otherwise, when you are about to retire, you may realize that you cannot apply for it or that your retirement check is too low. It could be really disappointing to find out you can no longer do anything else.
Believe it or not, there are many citizens in the United States who have completely ignored these requirements. However, as they found out too late, there was nothing else they could do but regret it. The first rule you must learn if you are 18 years old and have just started working is that you must pay taxes.
Therefore, as you work, you must pay Social Security taxes. They will be taken from your monthly paycheck. In this way, you will be able to claim a retirement check in the future. Bear in mind that there are just a few jobs that do not pay taxes. Take for example town or state government positions. No tax, no check.
Still, there are other types of benefits not directed by Social Security that those types of jobs can have. Anyway, it’s very important to remember that the more taxes the better retirement benefit in the future, so that’s one of the fundamental pillars for retirement. The check you receive each month will depend on this, although not on the day of collection, as that is decided by other factors.
What is the age requirement to be eligible for Social Security benefits?
Unfortunately, you cannot retire at any age if that was your idea. Many people start dreaming of retirement the very first day they start working. On the other hand, time flies so it will not take that long to get there. Once you have paid taxes, you may qualify to get Social Security benefits when you are a senior.
But what is the exact age? To collect Social Security retirement benefits you must be either 62 years old or older. Before claiming benefits at that early stage, it would be wise to see what your expenses are. Perhaps, you should wait until full retirement age. That is the best way to get 100% of your retirement check.
How many years do I have to work to get retirement benefits from SSA?
SSA or Social Security Administration requires citizens to work for at least 10 years. Ten years may not be enough to collect a decent check. Maybe, it will not be enough to support your financial situation as a retiree. Many seniors regret not having worked for more years. Remember that your goal must be 35 years.
And even if we don’t have a huge salary the goal of working for 35 years should remain intact. Remember that the Social Security Administration will calculate your retirement benefit based on the 35 years of highest salary. For that reason, even having a small salary is better than not working that number of years.
If we make the mistake of not working for at least 35 years, our check could take a huge reduction. Each year not worked below that figure will cause the Administration to add $0 to the average. And that can cause the monthly check to go way down when we apply for it.