Social Security Spousal Benefits: One Misconception That Could Trip You Up
Millions of Americans qualify for Social Security by working and paying into the system throughout their careers. Since Social Security is primarily funded by payroll taxes, it takes a certain amount of earnings to be able to get benefits in retirement.To be eligible for Social Security, you'll need to accumulate 40 work credits in your lifetime and can rack up a maximum of four credits per year. The value of a single work credit, however, changes from one year to the next.Image source: Getty Images.Continue reading
Millions of Americans qualify for Social Security by working and paying into the system throughout their careers. Since Social Security is primarily funded by payroll taxes, it takes a certain amount of earnings to be able to get benefits in retirement.
To be eligible for Social Security, you'll need to accumulate 40 work credits in your lifetime and can rack up a maximum of four credits per year. The value of a single work credit, however, changes from one year to the next.
Image source: Getty Images.
