![]() ![]() I know you’re probably thinking, “Rachel, how can I prepare for the future when I’m just living paycheck to paycheck?” To some, preparing your finances for the unexpected feels a little silly when you’re just trying to keep the lights on. It’s something you can achieve! But in order to get there, you have to know why it’s so important. It’s having peace as you take care of a family member in the hospital, even when the medical bills just keep stacking up.įinancial security isn’t just something to hope for. It’s knowing that you and your family will be okay, even if you lose your job. It’s having the confidence that you can survive financially, even when the unexpected hits. So, let’s talk about what financial security is, why it’s important, the difference between financial security and financial stability, and how you can achieve it.įinancial security is reaching a point where you’re so stable with your money that you’re living without debt, paying your monthly expenses, investing for retirement, and keeping money in the bank for emergencies. Even if you’re buried in debt, have made money mistakes your entire life, and don’t have a dime saved for retirement-you can still have financial security. Listen guys, it’s time to kiss money stress goodbye and start getting a good night’s sleep. More than 40% worry about their finances every single day, and 34% lose sleep over them. In fact, for Americans, the number one cause of “significant” stress is money and personal finances. ![]() ![]() This means you would receive your first payment in the sixth full month after the date we find that your disability began.Financial security is something everyone wants but not a lot of people actually have. Generally, if your application for Social Security Disability Insurance (SSDI) is approved, you must wait five months before you can receive your first SSDI benefit payment. FAQs What's the quickest you can get disability? › The amount you can earn without affecting your benefits is adjusted annually, and the rules differ depending on your age and the year in which you reach full retirement age. However, if you are already receiving benefits and you continue to work, your benefits may be reduced if you earn over a certain amount. This can result in an increase in your monthly benefit amount. If you continue to work past full retirement age, your Social Security Retirement benefits may be increased, as the Social Security Administration will recalculate your benefit amount to take into account any additional earnings you have. Q: What happens if I continue to work past full retirement age? Table of Contents Common Questions About Disability and Retirement Related to Social Security Q: What is Social Security Disability? Q: Who is eligible for Social Security Disability? Q: How do I apply for Social Security Disability? Q: What medical conditions qualify for Social Security Disability? Q: How are Social Security Disability benefits calculated? Q: Can I work and receive Social Security Disability benefits? Q: What is the difference between Social Security Disability and Supplemental Security Income (SSI)? Q: What happens if my Social Security Disability application is denied? Q: How do I appeal a denied Social Security Disability claim? Q: How long does it take to receive a decision on a Social Security Disability claim? Q: What is Social Security Retirement? Q: Who is eligible for Social Security Retirement? Q: How do I apply for Social Security Retirement? Q: What is the full retirement age for Social Security? Q: Can I collect Social Security Retirement and work at the same time? Q: How are Social Security Retirement benefits calculated? Q: What is the maximum Social Security Retirement benefit amount? Q: When should I start collecting Social Security Retirement benefits? Q: What happens if I continue to work past full retirement age? FAQs ![]()
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