Social Security Work Credits Are Getting Harder to Earn
The Social Security Administration doesn't just give away benefits at random. Rather, the monthly benefit you're entitled to in retirement will be calculated by taking your average monthly wage, adjusted for inflation, over your 35 highest-paid years in the workforce, and then applying that number to a special formula. But you're only entitled to a retirement benefit if you earn enough work credits in your lifetime. And next year, those credits will be more difficult to earn.
In order to collect Social Security as a senior, you'll need 40 work credits in your lifetime. The maximum number of credits you can earn in a single year is four, regardless of what your income looks like. That said, there's an income threshold that must be met to qualify for these credits that changes from year to year.
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Source Fool.com
