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Money and Finances
Reply to "Explain social security and time put in"
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[quote=Anonymous][quote=Anonymous]How does it work? If you work for 20 years and contribute to the system and stop working to occasionally freelance at 45, but plan to collect at 65, do you get an extremely small check, or even no check? [/quote] Your benefit is based on the 35 (?) top earning years, indexed to the year they do the calculation. (E.g. earnings in 1965 would be small, comparatively, so they calculate those earnings as what they would be if earned in the present.) You can find out your estimated benefit from SS, although I think their calculators all assume continued contributions of similar amounts.[/quote]
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