Work credits are a fundamental element for any United States citizen who is thinking about applying for a Social Security retirement check. Therefore, it is something we cannot forget at any time, as it is key to having the best golden years possible.
So if you are thinking about organizing your retirement and having a monthly payment to be able to enjoy these golden years, it is best to keep in mind at all times what are the rules that we must apply. If we do not apply all the mandatory rules we will not get the benefit, so we could have economic problems in the future.
What happens if I don’t have 40 Social Security work credits?
The truth is that the answer to this question is simpler than it seems. If we do not reach 40 Social Security work credits, we would not be able to get an age retirement benefit. Therefore, we would not be collecting a retirement check each month and, in that case, our finances would be in direct trouble during the golden years.
As far as this is concerned, the Social Security Administration and the U.S. Government are inflexible. If we don’t have the 40 work credits we won’t get a retirement check. It is not enough to be 38 or close to 40. It is mandatory to have at least that many work credits. Remember that this is the minimum amount and that it is not advisable to get a check for retirement of these characteristics, since we would be talking about a check that is too small.
How to get Social Security credits?
Working citizens get work credits to obtain a Social Security payment. Each year worked we earn 4 work credits. This is not exactly true, as it depends on how much money we earn. One work credit is earned by earning $1,730, so if you earn $6,920 in one year, you can earn four work credits.
Each year we can earn a maximum of four work credits, so it is usual to count the work credits in this way. To reach 40 work credits we have to work a minimum of 10 years. Only in this way will we have the possibility of enjoying a Social Security retirement check.
