Benefits Of Social Security

Social security has been around for more than 80 years. It was established in 1935 just after the United States was starting to recover from the great depression. People where left broke and many had nothing left. People were beginning to worry on how the elderly and the people who were retired where going to financially survive. It became such a big concern that on August 14, 1935 President Franklin D Roosevelt passed the act to help support the elderly that could no longer work, but as time developed the social security act started to expand to more than just the elderly and the retired.

It became an act of support for people with disabilities that interfered with their capability of being able to work. It is also for people who have lost

Must be at least 62 before being eligible for retirement. If retired before 67 it may decrease the benefit of social security because payments decrease if benefits are collected before the age of 67. The longer in the workforce and the more money that is being made contributes to a bigger social security payment. Another benefit social security provides is the survivor benefit which provides widows or widowers or even children who have lost a parent or guardian a payment to help the cost of daily living.

Social Security also supports children or adults with disabilities. Must have a disability that makes them incapable of working in the workforce and must have proof that the disability is long term and that it affects all areas of the workforce not just one specific job. Medicare is also a part of it as well and it helps provide health care for those who can’t afford it on their own. Social Security plays a big roll in helping the people of America survive or attain a more secure lifestyle, but social security is not for everyone and only people that have worked enough and people under certain circumstances can even qualify for

Even people who do not work can still apply for social security and may be accepted if their spouse is eligible. Social Security is made for the benefit of people who may need extra money to help with everyday living but only if they meet the requirements of social security. A person must be interviewed at a local social security office or over the telephone it will take about 60 minutes to an hour to get a reply notifying the applicant if they were approved or declined.

Social security is supposed to be a positive for the United States but most people believe that it will cause bankruptcy. This is true because baby boomers will slowly drain down to 3 trillion dollars’ stock pile that social security is a master of a last few decades. By 2033 we won’t be able to pay the senor citizen the amount that they are owed but that is not a reason to blow up social security. Right now, social security system is partially funded meaning that it takes out the pay checks of workers to be able to pay for the retired, but to help benefit the system and make it better than what it is we could fully fund it meaning benefits will be payed from a trust fund instead of a worker paying into the