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Social Security Benefits for Women

Depending on the stage of life you are in currently you may need to tap into your Social Security benefits or at least learn more about them. The beginning of the new year is right around the corner and having better access to information that can be of help to you is a resolution worth making. Fortunately, there is a great deal of information available to you on the internet about Social Security benefits and the extent to which you can take advantage of them as you move into various stages of life. Whether you need to learn more about retirement, disability, or survivor’s benefits this blog post from the Law Office of Bryan Fagan is designed to help you learn more about the world of Social Security benefits. 

Social Security numbers are usually assigned immediately after birth to any baby born in the United States or on U.S. soil. Your mother/father probably filled out paperwork while you were in the hospital to have a Social Security number assigned to you. That number may have been needed to sign you up for school, receive medical care or land your first summer job as a teenager. From the beginning of your life, Social Security was a part of the things that you did and the places that you went. 

If you are a woman who is reading this blog post, then you know the difficulties associated with trying to be a mother and a career-oriented woman. You may be in a position where you have not had children and do not plan on having a child. In that case, your life may revolve in large part around your work, and working outside the home is a major component of your life. This is not a path for every woman but if you are living your life working outside the home then your life has largely been focused on building up your resume and working towards various career goals.

Or, you may have worked outside the home for some time and then have left the workforce to raise children. This is a common situation for many women who choose to stay home to raise children while they are young. Then, once the kids have grown up and have started school, you may have entered the workforce and moved on from there. The final option for you as a working person would be to have never worked outside the home. However, any “stay at home” mom or dad can tell you that your work is never done when it comes to taking care of the home and the kids. As a father to four kids, I can tell you that taking care of the kids is usually more difficult than practicing law. 

It doesn’t matter if you have worked previously, are working now, have never worked outside the home, or have experienced some combination of the two. You need to be aware of how your Social Security benefits can impact your life. Not understanding these subjects can lead to situations where you and your family are left without recourse in certain situations when you otherwise could have been cared for by these benefits. Many people hear stories about Social Security going bankrupt or belly-up or whatever phrase you want to use and assume that it is not worth it to even learn about this subject. The reality could not be further from the truth. On the bright side, once you learn the basics you will most all the subject matter covered before you when it comes to Social Security. 

How does Social Security work (no pun intended)?

Your employer collects Federal Insurance Contributions Act (FICA) withholdings each pay period and then reports your earnings electronically to Social Security. This is a method that Social Security uses to track how much you earn. What you earn throughout your working life determines in large part how much you can receive in Social Security retirement, disability, spouses, and survivors’ coverage for you and your family. You can earn up to four Social Security credits each year a