Your 2018 Guide to Social Security Benefits
Social Security is a major source of income for most American seniors. However, many current and future Social Security beneficiaries don't know some important details about how the program works. With that in mind, here's your 2018 guide to help you understand Social Security benefits, how to claim yours, and what to expect going forward.
First of all, to be eligible for a Social Security retirement benefit, you need to have worked for a certain minimum amount of time.
Specifically, you'll need at least 40 Social Security credits to collect a benefit on your own work record. The amount of earnings that is necessary for one credit has increased over time, and is $1,320 in 2018. You can earn a maximum of four Social Security credits per year, so this means that you'll need to have earned $5,280 (inflation-adjusted) in each of 10 or more years.
Source: Fool.com
