Social Security

The Social Security Administration (SSA) pays disability benefits through two programs:  the Social Security Disability Insurance (SSDI) program and the Supplemental Security Income (SSI) program.  This article provides an overview of the SSDI program. 

Millions of Americans rely on Social Security for either disability or retirement benefits.  Overall, the government does a good job of calculating and distributing benefits, but sometimes mistakes are made.  Overpayments occur when you receive more money in your checks than you are entitled to receive.

Those who live long enough, face the big question: “When should I start taking my Social Security Retirement Benefits?”  Like most of the big questions in life, there is no one, simple answer.  Whether you take your retirement benefits at age 62, at 67 or 70 will depend on your own individual work and financial situation.  There are pros and cons to each option, and we will discuss them here.

What is Social Security?

Social Security is a government program that provides regular benefits to eligible workers and their families after the worker retires, becomes severely disabled or dies. The program is funded by Social Security taxes from employees, employers and self-employed workers.

This is a  decision that requires thought and planning.  Taking benefits early means getting a reduced payment.  Delaying benefits until age 70 will result in a larger monthly payment.  There are pros and cons to either option.  You need to consider multiple factors before making a decision.

This website has been prepared for general information purposes only. The information on this website is not legal advice. Legal advice is dependent upon the specific circumstances of each situation. Also, the law may vary from state-to-state or county-to-county, so that some information in this website may not be correct for your situation. Finally, the information contained on this website is not guaranteed to be up to date. Therefore, the information contained in this website cannot replace the advice of competent legal counsel licensed in your jurisdiction.