Social Security Retirement Benefits in CT and NY
Social Security benefits are a Government Pension Plan that is paid for by taxes on your income.
Social Security benefits replace about 40% of your income after retiring. However, you will generally need 70% or more of your pre-retirement income. Here in towns like Wilton and North Salem the cost of living is high so it doesn’t go far. In some cases, it may work to your benefit to hire a social security benefits lawyer at Legal Sweeney.
Social Security Benefits
In the big picture, you need more retirement savings than Social Security benefits. Retirees also need private pensions, savings, and investments.
Only 10 years of paying into the system are needed, but you need 35 to maximize the benefits. The current maximum benefit at 67 is about $3,500 per month or $42,000 per year, but most people only receive about 1,350 or 16,200.
Your retirement through social security benefits is based on your earnings in your 35 highest-paid years.
Uncle Sam manages to get his money in many ways, your social security is taxable if your income is over $25,000.
While simple in concept, the Social Security benefits system is pretty complicated in application, and it may help you to consult an expert when making these decisions.
The Social Security Facts
Bottom line, you will use your Social Security benefits and it will be meaningful to you. However, it was not designed to be your primary source of income in retirement.
Your average life expectancy at 65 is about 20 years, longer if you are in good shape, highly educated, and with high income.
About a quarter of the federal budget goes to pay social security benefits, almost a trillion dollars. 71% of the benefits are paid for retirement benefits. Disabled people receive about 16% and survivors about 13%. 48% of married couples and more than 70% of unmarried people rely on Social Security benefits for half of their income. 21% of married couples and more than 43% of unmarried people rely on Social Security for 90% of their income. An astounding 31% of people have no money set aside for retirement.
The government actually has a pretty good website on Social Security with a wealth of information and calculators regarding social security benefits. Contacting Legal Sweeney for the guidance you need can help you to navigate the complicated waters of social security benefits.
Reasons to Hire a Social Security Disability Benefits Lawyer
If you have become disabled or are not able to work to provide for yourself, Social Security benefits could help provide you with the financial support and help that you require. The Social Security Administration provides assistance to people who qualify and meet the requirements of being disabled. This process involves submitting many forms with detailed medical reports, employment records, and a multitude of other information. It is highly recommended to work with an experienced Social Security disability lawyer at Legal Sweeney to help you through this difficult, yet important, process regarding your social security benefits.
Most applications are originally denied. Research has found that on average, about fifty percent of disability claims are denied. Because of such a high denial rate, it is important to work with a qualified Social Security disability lawyer who can help improve your application by ensuring it is accurate, completely, and properly formatted so that you may retain social security benefits. By working with Legal Sweeney to improve your application, you have a higher chance of having your claim approved on the first submission.
An experienced lawyer at Legal Sweeney understands the process that comes with obtaining social security benefits. A general rule of thumb is that if you have done a task before, the task will be easier than if you have not. Social security disability benefits lawyers handle applications and appeals processes every day and know the process fully. Experienced lawyers also have relationships with agency employees, specifically judges who conduct the hearings. They understand and can explain to you what needs to happen in order to successfully obtain social security benefits. In addition to the amount of paperwork you will need to complete, the entire process is a lot to manage for someone who is also having to manage an injury or illness as well as go to medical appointments. Having someone on your side to handle the administrative aspects of social security benefits can be a huge relief.
Social Security disability benefits lawyers have professional standards. A third party is always able to assist you with a Social Security disability claim. However, once the claim gets to the appeals level, a non-attorney representative must have a variety of qualifications including: a bachelor’s degree, liability insurance, as well as passing a written test and background check. Social security disability lawyers in most states are required to follow the ethics rules of the Supreme Court. One of the most well-known ethics an attorney has to follow is confidentiality. A non-attorney you choose to represent you would obviously be someone you trust, however, they are able to speak about your confidential information and there is nothing you can do about it.
A Social Security disability lawyer has a team to assist in helping you to successfully obtain social security benefits. Most Social Security disability lawyers do not work by themselves. They are supported by a team of professionals to assist at any point during the claims process. This means that you have a team working for you to answer any questions or concerns in a quick manner, as well as ensuring your deadlines are met.
The experienced and dedicated Social Security disability benefits lawyers from Legal Sweeney have successfully helped individuals receive the social security benefits they need and deserve. We can work on your behalf as well. Contact Legal Sweeney today to schedule a consultation regarding your social security benefits.