Thank you for your input. I went to SS, but can not get a benefits estimate until I reach 40 quarters, which I have not done yet. I will continue to monitor, but this would be helpful info to know! Hopefully it helps, I still want to best grow what I do have, in the meantime!Like many, many people, I think your Social Security benefits will be a significant part of your financial picture in retirement. Go to the ssa.gov website and create your "My Social Security" account. Then make sure that any past earnings that were subject to SS are recorded correctly. It should give you a estimate of what your benefit will be, based on your past earnings, continuing your current earnings, and when you start to draw. If you work pretty continuously in covered employment, you should meet the earnings requirement to be fully insured.Regarding future SS/Pension: My former husband was an IL state employee and paid into his pension program and was exempt from SS. I was a stay at home/homeschooling mom, for 27 years. Because he did not pay into SS, and because I did not work, I have very few quarters in SS (and those I do have, were for very little income). I am starting now, but I don't expect to receive much retirement income from SS?
Social Security is designed to replace more of the working income for those at the lower end of the earnings spectrum. If you get fully insured, and work as long as you can before starting your benefits, this aspect should work in your favor. Good luck!
Statistics: Posted by cdallas — Sat Jan 18, 2025 7:31 pm — Replies 11 — Views 713