If you’ve ever wondered how much you might collect when you retire, or if you’re eligible for disability benefits, you’ve probably realized that Social Security isn’t as simple as it seems at first glance. It’s true that millions of people in the United States get it every month, but behind every check is a specific set of conditions that aren’t always well understood.
The Social Security Administration (SSA) does not automatically distribute money to anyone who reaches a certain age. To start getting that much-needed monthly payment, you must meet certain requirements that, while relatively simple to understand, are not always easy to meet in practice. What exactly are these requirements? Well, although they vary depending on the benefit you apply for, there are three key points to keep in mind.
That’s why it’s important to clearly understand, before you reach retirement age or face a disability, what these requirements are that may determine whether or not you are entitled to monthly Social Security benefits.
1st key requirement: have worked long enough
The first and most fundamental requirement for collecting Social Security is to have worked and paid enough taxes during your working life. It seems obvious, but there are important details that many people are unaware of. To get full retirement benefits, you need to have accumulated what are called 40 work credits. This basically means having worked for about ten years in total, paying taxes on what you earned during that time.
Does that mean you have to have worked continuously for ten years? Not necessarily. You may have had temporary jobs, seasonal work, or even long breaks in your career. What counts is the total amount of time worked. But if you have worked less, even if you earned a lot of money during that short period, you may not have earned enough credits to collect full benefits.
On the other hand, for those applying for disability benefits, the credits needed depend on your age at the time of application. For example, a young person who becomes disabled early in life may qualify with fewer credits because it stands to reason that they haven’t had as much time to accumulate them.
2nd requirement: the age to start collecting
The age at which you decide to apply for Social Security has a much greater impact than you might think. Officially, you can start collecting at age 62, but here’s the catch: if you start that early, the monthly amount you get will be much lower for the rest of your life. That’s why there’s something called the “full retirement age,” which is usually between 66 and 67, depending on when you were born.
If you wait until you reach this full age before collecting, you get your full benefit. But if you wait even longer, until you turn 70, the SSA rewards you with a higher monthly amount. This increase continues for as long as you live. So, although the temptation to collect at age 62 may be high, it’s worth thinking it through. It’s not just a question of age, but of how much money you’ll get each month for years to come.
3rd requirement: your legal status in the United States
Finally, your legal status also matters. Although many people think that you must be a U.S. citizen to collect Social Security, this is not necessarily the case. You can collect it as a legal resident, as long as you have paid enough into the system and meet certain specific residency requirements.
However, if you are a foreigner or permanent resident and decide to move outside the United States, things change. In some countries, you can continue to collect without any problems; in others, there are severe restrictions. For example, if you get SSI (Supplemental Security Income) benefits, you must reside continuously in the US. If you move abroad for more than a month, you could automatically lose your help.
Therefore, if you are not a citizen but have paid into the system for years, you should find out exactly how your residence could affect your monthly payment before making any decisions that could compromise your financial stability.
How to verify that you actually meet all these requirements
The easiest way to check that you meet these requirements is to create a free personal account on the official SSA website. There you will have direct access to your work history, the credits you have accumulated, and updated estimates of what you can expect to collect when you retire.
By doing this in advance, you can discover and correct any errors in your work history before the crucial moment arrives. Because, although it may seem counterintuitive, knowing how much you will collect from the outset is much easier if you start early and take your time to check everything.