Nine Things Worth Knowing About Burbank Social Security Benefit

social security

Did you know that about half the US 65-plus population depends 50% on social security benefits for their monthly income?
Thanks to social security benefits, about 10% of US senior citizens are above the poverty level.
This prompts many people to ask questions about social security benefits and its working. So, if you want to know more about social security benefits, here are the six frequently asked questions.

1. When Do I Start Collecting Social Security Benefits?

As long as you are eligible, anyone can start collecting their benefits at age 62.
However, you stand to receive more if you wait till your full retirement age.

2. How Long Must I Work to Become Eligible for Benefits?

You have to work at least for ten years to receive retirement benefits.
Social security benefits work on a system where employees have to work and pay social security taxes every year. Each employee earns a maximum of four credits a year.
It doesn’t matter how many credits you earn in a year. You need to accumulate a total of 40 credits to qualify for retirement benefits.

3. Are Social Security Benefits Only for Retired Workers?

No. While a majority of beneficiaries are retirees, the remainder is:

  • The retiree’s spouses, ex-spouses, and children
  • Disabled employees and their families
  • Survivors of deceased beneficiaries

4. Do I Receive Benefits Only After I Stop Working?

No, you can receive benefits before retiring.
However, your benefits are temporarily reduced if you claim before your retirement age and if you earn a stipulated amount. But the good news is that the reduction is removed once you reach full retirement age. So, the increase compromises for whatever you had lost over time.

5. How Much Will I Receive as Social Security Benefits?

There is no fixed number, and you won’t know until you file.
It depends on various factors, including:

  • Your lifetime earnings
  • How much social security taxes you pay
  • When you claim your benefits

Social security makes calculations based on your 35 highest-earnings years to get an inflation-adjusted average. Your ‘basic’ benefits amount is determined based on this average and a progressive formula.

6. What Are the Maximum Monthly Benefits I Can Receive?

Employees at the full retirement age of 66 and 2 months claiming benefits in 2021 stand to receive about double their average retirement benefit. However, you must have exceeded social security’s maximum taxable income to receive top benefits for your earnings.
The maximum taxable income is an annually adjusted cap on your income subject to social security taxes for minimally 35 working years.

7. Can I Receive Benefits Based on My Ex-Spouse’s Earnings?


Yes, you can claim up to 50% of your divorce-spouse benefits if:

  • You are at least 62 years old
  • The marriage lasted at least ten years
  • You haven’t remarried

But social security pays you your ex-spouse’s benefits only if it exceeds your benefits. You receive only the higher of the two amounts and not both.

8. How Does Social Security Know About the Death of a Beneficiary?

Social security is informed about a beneficiary’s death through:

  • Family members
  • Government agencies
  • Funeral homes

However, it is better to personally inform the social security association of a family member’s death.

9. Can I Boost the Number of My Benefits?

Once eligible, the longer you wait to claim benefits, the more you stand to receive. You stand to earn as much as 100% of your lifetime earnings if you wait till your full retirement age.
This value increases by 8% each year until 70 for any claims made past the full retirement age. There, however, are no financial incentives for delays in claims made past age 70.

Leave the Calculations to Your Burbank Social Security Benefits Lawyer

Calculations play an essential part in determining your benefits, which can get confusing. That’s why it’s better to ask your social security benefits attorney in Burbank for advice on making your claim. They will guide you based on your present age, earning capacity, and disabilities.

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