Have you ever thought about what it would be like to not be able to purchase food or a home? For many this was a real struggle, until 82 years ago when Social Security was signed into law .
Social Security Administration, a guaranteed income for the unemployed and retirees, was started by Franklin D. Roosevelt on August 14th, 1935. This happened because people weren't setting money aside for retirement. It was designed to keep paying people after retirement.
Having Social Security benefits widows, disabled, and retired. With social security you are able to receive monthly benefit payments, so you can support yourself.
In the U.S. during the depression, more than 222,000 people received small monthly benefits in 1940. It provided the main benefit for Americans. In …show more content…
They had a large drought from 1917-1921 both in the air and in the economy. This was when they signed into law Montana's old pension act, 12 years before the Social Security Act of 1935.
The government will continue using money that is set aside for social security, for other things that people are not putting their money into. People might start working for short periods of time in order to get benefits after retiring.
There are 5 kinds of Social Security:
Disability Insurance Benefit pays benefits to your or some of your family members who are "insured" meaning that they have worked for a long period of time and have paid Social Security Taxes.
Supplement Insurance Income provides stipends to low-income citizens who are the age of 65 or older.
Childs Disability Benefits is when a child who is younger than 18 and has a parent that has social security disability may be eligible to get dependents.
Disabled Widow Benefits is when a widower can receive reduced benefits as early as age 60.
Disabled Adult Child Benefits is when an adult who was disabled before the age of 22 they can be eligible if their parents are deceased for child
Social Security Administration, a guaranteed income for the unemployed and retirees, was started by Franklin D. Roosevelt on August 14th, 1935. This happened because people weren't setting money aside for retirement. It was designed to keep paying people after retirement.
Having Social Security benefits widows, disabled, and retired. With social security you are able to receive monthly benefit payments, so you can support yourself.
In the U.S. during the depression, more than 222,000 people received small monthly benefits in 1940. It provided the main benefit for Americans. In …show more content…
They had a large drought from 1917-1921 both in the air and in the economy. This was when they signed into law Montana's old pension act, 12 years before the Social Security Act of 1935.
The government will continue using money that is set aside for social security, for other things that people are not putting their money into. People might start working for short periods of time in order to get benefits after retiring.
There are 5 kinds of Social Security:
Disability Insurance Benefit pays benefits to your or some of your family members who are "insured" meaning that they have worked for a long period of time and have paid Social Security Taxes.
Supplement Insurance Income provides stipends to low-income citizens who are the age of 65 or older.
Childs Disability Benefits is when a child who is younger than 18 and has a parent that has social security disability may be eligible to get dependents.
Disabled Widow Benefits is when a widower can receive reduced benefits as early as age 60.
Disabled Adult Child Benefits is when an adult who was disabled before the age of 22 they can be eligible if their parents are deceased for child