Making your Social Security benefits work for you
Before considering eligibility criteria for these Social Security benefits, citizens need to note how they can increase these benefits and make the benefits work fully for them. For most people, earning a higher salary when working would mean a higher overall benefit when they hit retirement age. However, every citizen can’t ensure that they earn more to secure an increased benefit.
Therefore, a few strategies can be considered:
- Attempt to earn more money: Employees can opt to work overtime to secure more income or move to higher-paying jobs.
- Delay your collection as best as possible: Working a few extra years could delay your payment and increase your benefits.
Ideally, you want to wait until your full retirement age to start collecting your benefits. The fact remains that the earlier you retire, the less you receive in benefits. Early retirement reductions surely do occur when you choose to retire earlier. Citizens must remember that all benefit amounts are based on how much a person earns during their lifetime and at what age the person starts collecting their benefits.
Other benefits you may qualify for
There are certainly some people who will not be able to collect Social Security benefits from April 2025 due to the strict eligibility criteria. However, there is hope to qualify for some other benefits, such as Spousal Benefits. If a person’s spouse qualifies for Social Security benefits, the person could receive up to about 50% of their spouse’s benefits. While Social Security benefits become essential during retirement, citizens should plan to avoid any disappointments.
Citizens who have to leave work earlier than the full retirement age can also consider opting for Disability Benefits (SSDI). Those with a medical condition that prevents them from working could qualify for SSDI. Furthermore, widows or widowers of deceased workers can even consider reaping benefits from the Survivor Benefits.
Eligibility criteria to claim Social Security benefits
The Social Security Administration makes it clear that only those citizens who meet the eligibility criteria can claim benefits. In fact, not everyone can start collecting their benefits right away, they have to tick the boxes in terms of meeting the stricter requirements set out by the SSA. If, however, citizens do not meet these minimum requirements, they will not be able to collect these benefits, so these obligations should be considered.
- Citizens must have worked for at least 10 years. Citizens who work for 10 years earn 40 credits.
- Citizens must be 62 years old to start receiving these benefits.
- Ideally, citizens must try to work for at least 35 years to receive the maximum benefit.
If citizens do not qualify for Social Security benefits, they should certainly consider the range of possible benefit options that they may be eligible for. Citizens working towards receiving these Social Security benefits when they retire should ensure that they work for many years before retirement and that they try to earn as much as they can during their working lifetime. Citizens who earn Social Security benefits should make their benefits work for them and look for ways to reduce taxes on their Social Security benefits.