For some households, it makes sense for a worker to start reduced retirement benefits early in order to permit other family members to immediately start collecting Social Security benefits on the workerâs earnings record.
Social Security is a key source of financial support, and keeping track of the changes that happen with the program each year is crucial in order to plan your financial future. Keep these facts in mind, and you'll be better prepared to hit the ground running in 2018.
Here's how Social Security calculates your SSDI benefits. How much your Social Security disability benefit will be is based on your covered earnings -- the wages that you paid Social Security taxes on -- prior to becoming disabled. (Social Security Disability Insurance (SSDI) is the federal insurance program that provides benefits to qualified workers who can no longer work.