I realize you have a question about social security. My goal is to provide you with excellent service, and help you better understand your options.
How are you today?
Declaring the income from babysitting will help your parents get credit for social security, but they need 40 quarters of credit to qualify. This is 10 years of work.
and what difference would that make?
and also if they declare higher income will the 40 credits be obtained faster?
No, they would not be earned any faster.
But they could be eligible for SSI which is a low income benefit
okay, understood. so there is no benefit in declaring the income vb not declaring since SSI will kick in automatically at retirement, correct?
That is correct
And earning only $5,000 they should be eligible for food stamps and energy assistance
Is there anything else that you need assistance with today?
but if they declare this little income for 5 years than add the ssi, would that count after the 40 credits are accumulated?
They don't need the 40 credits for SSI
I mean after the 10 years, 5 without SSI and 5 with. What implications will that have, if at age 70 they reach 40 credits?
Then they would start getting benefits
on top of the ssi, correct?
and is there a maximum, any public guidelines on what the amounts are as of 2013?
You can call 1-800-772-1213 and they can tell you, because it varies by individual
understood and thank you
have a good night