Social Security Report

Social Security Disability: How your benefit is calculated

Of course, no one expects to become disabled and not be able to earn a living, but the reality is that about 10 million of Social Security’s 62 million beneficiaries are those who became disabled and unable to work. And about 1 in 4 of today’s 20 year old’s could become disabled at some point in their lifetime. Those FICA taxes you contribute when you get paid include a piece for Social Security Disability Insurance (SSDI) which can provide you with income and keep you from poverty if you become disabled, even if you haven’t yet earned enough credits to be eligible for regular Social Security. But how much would your disability benefit be?  This Yahoo! Finance article by Dan Caplinger explains how the SSDI benefit is calculated and who else might be able to get benefits too.  Click here to read more.

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