How Much Money Might Be Coming Your Way With Social Security?


When you get hurt and are no longer able to continue working you might be able to get Social Security benefits. These monthly deposits are aimed at workers who've paid into the system for their entire working lives and now need to draw from that account. There are many misconceptions about how Social Security payments work, so read to learn how your monthly benefit payment is determined and how much you can expect.

Work Credits

Every dollar you earn from your first paycheck to the moment you become disabled is subject to Social Security Administration (SSA) deductions. Just like federal taxes and other deductions, the SSA deductions appear on your pay statement as a small amount taken out each pay period. Adding up these amounts and seeing how much you've paid into the system is actually not recommended. The way that the SSA determines your benefit amount is far more complex than just using your fund payments.

Instead, the SSA uses work credits to determine your benefit amount, and this determination happens before your medical condition is considered. If you are found to have insufficient work credits to gain benefits, you might be referred to the other Social Security program, SSI (Supplemental Security Income), which doesn't use work credits for the determination.

Your Social Security Account

The SSA used to send out yearly statements but has now moved toward providing people with the same information online. You can access this account, view and verify your earnings, and see what you might be entitled to receive if you were to become disabled. You can also check your retirement benefits here. Be sure to let the SSA know if you disagree with your earnings history since that amount is a key factor is getting benefits. The figures come directly from the IRS and are updated on a yearly basis.

Lowered Income

Most people are surprised at the low figures on their accounts. You should try to understand that the SSA payments are not really intended to totally replace the salary of your last job. The amount you get is based on your earnings over time and there is a cap no matter how much you used to earn. There are some special programs that allow you to earn more, and there is still a possibility that you can earn income as long as it doesn't violate the SSA rules. You are also entitled to a lump sum payment that makes up for the time since you become disabled till your approval.

Workers can be denied having even the minimum amount of help if they aren't careful. Fortunately, applicants are given the chance to appeal the ruling. Speak to a Social Security attorney for help with your appeal and get your benefits approved.


15 August 2018

tips for getting through an adoption

Adopting a child is a wonderful way to bring a child into your family and give a child that needs a home a loving environment to grow up in. Unfortunately, the adoption process is not easy to get through. If you fail to file one document, the adoption can be set back by months. This blog will show you what to expect as you work your way thorough the adoption process and give you a few ideas of the things that you should leave up to your family attorney. Hopefully, what I have learned through my two adoptions will help you get through yours with no issues.