Social Security Disability: The Future of the System

Becoming disabled before retirement could be a tremendous financial setback. In addition to being forced to cope with lost income and medical bills, Northwestern Mutual states that two-year impairment at age 50 can reduce overall investment accumulation by 30% in the period of retirement. The Social Security Administration (SSA) says that three out of every ten workers will end up too disabled to work before they reach retirement age. Additionally, 7.8 million people received Social Security disability benefits in recent years according to SSA in its publication “Workers Covered for Social Security Benefits, 2010.” For most of US, understanding that disability benefits are provided by SSA is an ease. Few of us, nevertheless, understand if we are in need of help, who’s insured, how this safety net is financed, or how to apply for benefits. Where Read More …