A Personal finance blog for saving money and earning more and thus having a better life
Social Security Disability is a program run by the federal government that is designed to help people who become disabled. All employers and employees are required to pay the FICA tax, which is what funds the Social Security and Medicare programs.
Per SSA, Social Security Disability Insurance pays benefits to you and certain members of your family if you are “insured”, that means you worked long enough and paid Social Security taxes.
I admit I have very little knowledge on how social security system works. All I know about it is we should not depend on social security income alone. We should start saving in one or the other retirement plans right from the beginning of our career. Enjoy this insightful post from Devin. I hope you get good information out of it, if applicable to your situation.
Want to save a ton of money? Check your Social Security statement.
Here is the gloomy Picture on the state of social security. This infographic is created by my friend Craig. The concept and topic were given by me. But, before you proceed with this, I will urge you to go over social security administration’s own infographic on the state of social security fund and its future.
It’s not good, either you start saving for your retirement today, if you are not up to it or, be prepared to work till you drop. There’s no alternative in sight, that I can think of, especially for the readers who are in their forties or younger.
