After unified Democrats and eight Republicans voted to remove House Speaker Kevin McCarthy in a historic 216-210 vote on Oct. 3, former speaker Newt Gingrich is in the news again, urging the GOP to.
Many Americans are counting on Social Security to provide them with a significant amount of income in retirement. A recent GOBankingRates survey found that nearly a third of Americans (32%) are.
There's a whole lot to look forward to in retirement. The most obvious benefit, of course, is that you don't have to work, which frees up endless hours to pursue your passions. Find Out: 7 Ways.
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December 30, 2020 5:03 AM newsfeedback@fool.com (Maurie Backman)
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December 31, 2020 8:51 AM
Social Security isn’t something you’re entitled to just because. You need to earn your benefits by paying taxes on wages throughout your career. What if you only work for a handful of years, or spend most of your life as a part-time worker? Here’s what you need to know about Social Security eligibility.
It’s all about work credits
When you make money and pay Social Security taxes on it, you earn work credits. The amount of earnings you’ll need to earn a work credit changes from year to year. In 2020, for example, you get one work credit per $1,410 of earnings. In 2021, you’ll need to earn $1,470 to get one work credit.