Differences Vary On How Much One Receives With Social Security Disability
If you are filing for Social Security Disability, you may be wondering how much you will receive. It is largely based on how much you have earned in the past that have been subjected to FICA taxes.
Usually someone who files has to work at least 5 years during the last 10 years. Under the age of 31? Don’t worry – the requirements are a little different since you haven’t been in the workforce as long. If you have been in the workforce for a while, the Social Security Administration calculates benefits based on an average of the highest-yielding 35 years of your working career or all of your working years if you have not yet worked that long. The current maximum monthly benefit an individual can receive is $2,000. The maximum a family can receive is about $3,400 a month.
If you have become disabled and cannot work, then you may need to calculate how much your disability payments may be. You can do this from the comfort of your own home without waiting at your local Social Security office.
The best place to begin is by visiting the Social Security Administration’s website and find the calculator for disability benefits. The calculator is useful for showing you the amount of benefits you could get monthly.
All one has to do is input all data into the calculator. You will need to have the yearly salary that you have received during your working career. This information can be found on your Social Security statement, which lists your yearly earnings under the heading of Your Taxed Social Security Earnings. Also input data relating to your date of birth, retirement age and future earnings. This information should provide your calculation of benefits.
Even if you haven’t become disabled, you might want to determine how much you could receive in the event that you are unable to work. The Social Security Administration reports that a 20-year-old worker has a 3-in-10 chance of becoming disabled before even reaching the age when he or she can retire.
If you need additional help, you can also contact your local Social Security office for assistance as well.
Tags: Eligibility, SSD Eligibility, SSDI Assistance, Supplemental Security Income