Social Security 10 Year Rule vs. 35 Year Rule (UNTANGLED!)

In order to qualify for social security you had to have paid into FICA taxes for at least 10 years. So where does the 35 year rule come into play? Let's discuss the differences and how it affects what you can withdraw for social security.

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[TheMedicareFamily]

Let me know what you think about the video in the comments below!

[CrazyArt-re]

I worked for an employer in the 80’s and found out when the Social Security sent me an estimate of my earnings about 10 years before I retired (I retired last year) and I noticed a few years had $0 amounts. Luckily had some of my old tax records with the companies W-2 forms and sent those to the SS office. They made the corrections and got my earnings level back to where it should have been. I made sure I contacted a lot of friends who also worked for that company so they could get theirs corrected also. Great advice in this video.

[toddpelton]

You’re awesome. Very informative. Thank you for all you do. May the Lord continue to bless you. :)

[teresawaterkuetter]

I was on SSDI from 1997-2021, (ages 34-58). All based on my previous earnings. Yet most of my employment was on campus student employment. No FICA was taken out. I asked about this at the time and was told by a good source that it would be illegal to deduct FICA from such employment.
Remembering the benefit amount at the end (2021) was very small . I doubt I can live on retirement. I will probably have to work until I am in the ground.
That is the reality I went back to school again to continue working.

[Marley_]

It's very simple you couldn't explain it any better thank you

[ellieraggs]

I had a number of lower income years when raising the kids. So now that I make more, every year I work now replaces one of the lower income years, and I see an increase in my benefits on my SS statement.

[jiiyl]

Your explanations are excellent. Thank you!

[marylethamatthews]

Thank you for your energy. You are so helpful.

[BrendaKleiber]

When I went on disability SS went for only the last year I worked at the lowest amount I ever earned. Why didn’t they go back 35 years where I made more?

[rnman]

I've been paying FICA taxes for 45 years... Time to collect.

[Savannah-edrv]

Adding a second comment that most people don't want to work until they're 70 you'll find out when you get closer to 65 even that it's difficult. I highly recommend a channel called "This is My Retirement ", and they are a couple from Canada who tries to encourage people to retire early and to find ways to do it that you may not realize will work! They're very interesting to watch and I always feel happier when I see them

[AllThingsSeydel]

Making the complex financial world more clear for all of us.. .. one video at a time

[Twelvestonestacking]

Love love love the info...you are a badass!!!!

[Savannah-edrv]

I appreciate you clarifying this information because there's a lot of wrong information out there about social security. Another fallacy is that in order to get ex spouse benefits that you need to be married for 10 years continuously and that is also not true. You can be divorced and remarried to the same person for a total of 10 years to get spousal benefits.

[edinbeganovic]

I worked from 1997 to 2007 and i em stop and go back EU,

[dodaguyer]

Could you address self-employment, please? I looked in your videos and didn't see any. Love watching you. I've learned so much in the last month! Thanks!!🎉

[stephenyang]

How will collecting SS at FRA and working will affect my SS payments? I work for the local government, so right now I don’t pay FICA, but I did pay FICA prior to working for the government. I did contribute to SS for over 30 years.

[tghenhb]

I know my sister works from the time she was 16 and definitely put in 10 years but became physically and psychologically disabled what was denied Social Security disability I think the court was in Virginia I'm not sure but it wasn't one where you would want to be hurt if you didn't if you could have your choice of where your case would be heard! The judge wouldn't listen to her lawyer and then anything that would help her case with her illness and it was so upsetting that the Court's Den for took it down even though the judge told her to stop recording! My baby sister has been told that since she hasn't worked for 10 years that she lost all her social security credits that you were speaking about! She was told that this change occurred during George Bush's term as president. That seems to be what I'm reading. My sister is in Dire Straits and can't even afford insurance to take care of herself! I financially helped her and hurt myself I'm now having trouble surviving on just my Social Security! I want to know is this true because you said something in this video that seemed to indicate that you can be in and out of the workplace and I thought you said you might have even stopped working and didn't clarify it which is okay. Can my sister collect Social Security or not, please help I'm so desperate for her

[shoppersdream]

Nice, thanks! I just subscribed to your channel. Did you say that if you work after your full retirement age then the Social Security agency is going to take money out of your paycheck for somebody else? Thanks

[ajg]

It doesn't make sense not to take SS when you reach full retirement age. Waiting until 70 would take about 14 years before you would break even without considering the time value of money if you invested the funds. I plan to take mine at 66 and 8 months, my full retirement age, and invest the funds while I work until 70. That $140K will grow to $175K and continue to accumulate value—the snowball effect (Buffet).