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Forum
-> Inquiries & Offers
-> New York related Inquiries
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amother
Green
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 Sun, Sep 23 2018, 8:20 am
I moved to us recently, I'm little confused about social security. How does this work?
When I retire do I only get the money that I put in during my working years?
What happens after death? Can spouse claim the rest of the money if this was the case?
Please explain how this works thanks so much everyone!
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pesek zman
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Sun, Sep 23 2018, 8:25 am
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You have to work (on the books) for 40 quarters (equivalent of 10 years) after which you'll qualify for Medicare and social security upon retirement
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amother
Green
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Sun, Sep 23 2018, 8:36 am
| pesek zman wrote: | | You have to work (on the books) for 40 quarters (equivalent of 10 years) after which you'll qualify for Medicare and social security upon retirement |
And how much money do you get monthly? Is it a percentage of the money you put in whilst you were working?
Is that's the case what happens after let's say 10 years into retirement when you got paid all the money u put in? And does ur spouse or family get to collect the balance when passes away?
And is Medicare free?
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amother
Beige
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Sun, Sep 23 2018, 9:12 am
| amother wrote: | And how much money do you get monthly? Is it a percentage of the money you put in whilst you were working?
Is that's the case what happens after let's say 10 years into retirement when you got paid all the money u put in? And does ur spouse or family get to collect the balance when passes away?
And is Medicare free? |
The amount relates to what you put in - but its not a percentage. With some exceptions - once you start to receive the retirement benefit - you don't stop, it doesn't 'run out'.
about spouse. https://www.thebalance.com/soc.....88284
about medicare. If you are eligible for medicare when you retire, its partially free.
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dankbar
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Wed, Sep 26 2018, 7:38 am
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fica taxes u get back after retirement. income taxes fed, state & city stays fattens incle sams greedy stomach
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nylon
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Wed, Sep 26 2018, 6:14 pm
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Medicare is complicated, but basically if you or your spouse have the qualifying time (40 quarters) you qualify for Medicare when you turn 65, or if you qualify for social security disability. Part A is hospital and is free. Part B is doctor's bills and outpatient treatment, and currently costs $134 a month for new enrollees. Then there are options to round out the coverage (drug benefits and deductibles).
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