3 Income Sources that Earn You Social Security Credits (and 2 that Don't)
In order to qualify for Social Security retirement benefits, you need to have a high enough earnings record to meet the minimum requirements. The problem is, not all kinds of income count as Social Security earnings. And if a large percentage of your income is from unqualified sources, your Social Security benefits could take a serious hit -- reducing your retirement income and making your golden years a lot less pleasant. That's why it's important to focus on types of income that can boost your benefits, including the three below.
Work credits are the measuring stick that the Social Security Administration uses to decide whether you've accrued enough earnings to qualify for benefits. It takes a minimum of 40 work credits to qualify for Social Security retirement benefits. In 2017, you need $1,300 in earnings to qualify for a single credit, and you can earn up to four credits per year. However, not all types of income count for earning work credits. That's why it's important to make sure you're getting at least enough income from the following sources to accrue your four credits per year.
Source: Fool.com
