3. Social Security credits and taxes
In 2025, you will have to earn a minimum number of credits in order to benefit from Social Security. The Social Security Administration will not offer you any benefits in case you don’t earn enough credits. To be considered eligible, you need a minimum of 40 work credits. Keep in mind that you are allowed to earn 4 credits per year.
In 2024, you need to earn $1,730 in wages or self-employment income to receive one credit, and a total of $6,920 for the maximum of four credits. The numbers are adjusted each year, so changes are expected for 2025. For comparison, in 2023, the requirement was $1,640 per credit, which is $90 less than what’s needed in 2024.
Keep in mind that earning more than 40 credits, will not increase your benefit payment! Your retirement benefits are calculated based on your earnings throughout your working life.
4 Responses
Thank you for your information it was beneficial
Trump will fix it.
Every time Democrats are in office, the 3 months where the COLA is decided, suddenly prices come down ( lowering the COLA ) even the 2022 – 2023 8.9 % was lower than the Inflation before and after August to October ( before the 3 months its decided inflation was hitting 12 % and more. )under Obama in 2013 and 2014 there was 0 COLA, as Obama announced ” it will cost you nomore to live in the country this year, as it did last year ” 2 weeks later Gas was almost $4.00 a gal
Who wants to vote for Kamala since she has stated she will take money from Social Security to give to illegal aliens for health insurance and income.