Here's How Your Social Security Benefits Are Calculated
Ever wonder where the benefit amounts listed on your Social Security statement come from? Understanding how your Social Security benefits are determined will help you understand how to maximize said benefits.
In order to receive any Social Security retirement benefits at all, you'll have to accrue at least 40 "credits." You get credits by earning wages from a job. In 2017, it takes $1,300 in earnings to get you one credit, and you can add up to four credits per year to your record. Thus you'll need to work at least 10 years to qualify for Social Security benefits (10 years x 4 credit per year = 40 credits).
Note that these are the rules for retirement benefits; the number of credits it takes to qualify for disability benefits will depend on your age at the time you become disabled, and it can range from six to 40 credits.
Source: Fool.com
