Whether you’re nearing retirement, have a significant disability, or are a family member of someone who has recently passed, you may be entitled to Social Security. Social Security was created in 1935 as a federal program that provides benefits to people who are retired, unable to work, or spouses and children of beneficiaries. Benefit amounts vary depending on income, years of employment, and the type of benefits you are receiving.
It is important to know that Social Security isn't just for people who reach retirement age. People who are unable to work or surviving spouses and family members are also eligible. Each category has somewhat different eligibility requirements. The following are the types of Social Security benefits:
Depending on your category of benefits, the requirements could be determined by several factors, including include years of employment, age, or your type of disability.
Sequoia Wealth Advisors believes Social Security is a major part of creating a retirement and financial plan. Let us help you plan how Social Security payments will fit into your overall retirement income plan and figure out when it would be best to start taking them. Contact us to learn more about what Social Security planning services we offer.