@FF, you're correct. My example wasn't a great choice, just an attempt to illustrate a point about the number of zeros.
I suspect that most people, even in the ERE crowd, will earn enough credits to qualify. Since it only takes $1120 in earnings to get a credit. Thus anyone earning $4500 in a year gets the full 4 credits.
Planning on social security?
Here's a question open to all who have an interest in the SS benefits issue:
From Q3 2001 to Q1 2005, FICA taxes were withheld from my paycheck. Recently, it has been acknowledged that these earnings were FICA exempt. I can have the FICA contributions refunded to me (about $11k), with interest, but I lose the value of the contributions if I do so. Meaning, I lose the credits and the value of the contribution to my ultimate SS benefit.
If I take the refund, I'll be knocked back down to 34 credits, and my benefit will go down by at least $130 per month.
So, what do you think-- take the refund, or not?
From Q3 2001 to Q1 2005, FICA taxes were withheld from my paycheck. Recently, it has been acknowledged that these earnings were FICA exempt. I can have the FICA contributions refunded to me (about $11k), with interest, but I lose the value of the contributions if I do so. Meaning, I lose the credits and the value of the contribution to my ultimate SS benefit.
If I take the refund, I'll be knocked back down to 34 credits, and my benefit will go down by at least $130 per month.
So, what do you think-- take the refund, or not?
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