Article provided by: First Benefits GroupVisit First Benefits Group to learn more about Sarasota social security. With our assistance, you can receive the right amount of income that you are entitled to get from social security retirement benefits and survivor benefits. Our strategies can help you optimize your chances for receiving better social security services.
Even if you will not be retiring any time soon, you should already start thinking about Sarasota social security matters that may affect you in the future. Here are a few facts that you should know about social security benefits before you decide to retire or plan your retirement.
Who's entitled to social security?
Anyone who has worked for at least 10 years or more is already eligible for retirement benefits. The Social Security Administration states that you need 40 quarters of coverage or credits and your minimum income must be $1,200 per quarter—an amount that even seasonal workers can meet. However, certain exceptions apply. For instance, federal employees who were hired before 1984 may not participate, and pastors may opt not to pay in.
The primary insurance amount is the benefit that you would get when you reach full retirement age, and it is based on your average indexed monthly earnings as applied to the inflation-adjusted formula. Your PIA is adjusted according to the age that you would retire.
Benefits for the spouse or widow
If your spouse earns less than you do, then your spouse can get spousal benefits based on his or her history of earnings. A spouse may get more than 50 percent of your primary insurance amount, too, but he or she is not eligible until you start getting benefits. However, both of you may start by the time you reach 62.
Let First Benefits Group answer further questions about Sarasota social security. Use this website to learn more about social security or call 941-361-3057 to talk to one of our financial educators. First Benefits Group can help you make smarter decisions when it comes to retirement and social security.
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306 N. Rhodes Avenue, Suite 111 Sarasota, FL 34237
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