You pride yourself in loving and supporting your family. But ongoing medical ailments prevent you from maintaining the last part of this family equation. Those medical ailments stop you from working your job or any job and earning the money your family needs.
Now, you must look into at least one way that can help: applying for Social Security disability (SSD) benefits. Your years of working and paying into the Social Security system ensure that you will get some support from the government. You earned it, but, now, you want to determine just how much money you can get if you qualify for SSD benefits.
The longer you worked, the more you receive
The amount of money you receive in SSD benefits is determined by the Social Security-taxed earnings you accrued during your working career. Usually, your monthly SSD benefit payment is slightly less than what you would have received if you worked until the designated retirement age – currently 67 for people born after 1960. Why? Workers often earn the most money near the end of their careers, and people with disabilities miss out on their top-earning years.
Last year’s statistical report from the Social Security Administration (SSA) disclosed that the average amount of monthly SSD benefits received was almost $1,234 in December 2018. Here is a breakdown by age and gender of what workers can expect in monthly SSD benefits:
- Under the age of 25: $654, men; $636, women
- Ages 25 to 29: $768, men; $741, women
- Ages 30 to 34: $897, men; $847, women
- Ages 35 to 39: $1,001, men; $943, women
- Ages 40 to 44: $1,097, men; $1,010, women
- Ages 45 to 49: $1,195, men; $1,051, women
- Ages 50 to 54: $1,286, men; $1,083, women
- Ages 55 to 59: $1,403, men; $1,124, women
- Ages 60 to 64: $1,532, men; $1,174, women
- Ages 65 and older: $1,586, men; $1,190, women
Naturally, financial worries mount when you are no longer able to work. But, once you qualify for SSD benefits, you will receive some financial support. The amount of your benefits is based on the length of your working career.
