SSI, SSDI, and Special Needs Planning

There is a veritable alphabet soup used in the field of estate planning when it comes to acronyms. Some of these acronyms look very similar, and they may be used to represent programs and legal devices that accomplish similar aims, so there can be a lot of confusion. With this in mind, let’s look at the distinctions between SSDI and SSI. SSDI When you are working and paying taxes, one of the taxes that you pay is the FICA payroll tax. Some people scratch their heads when they see a significant chunk of their income going toward this tax. It can be frustrating to see that money go out the window. However, you can take heart, because it is going to benefit you in the long run if you are fortunate enough to reach the typical age of retirement. When you pay FICA taxes you are earning retirement credits, and you can accumulate up to four per year. When you have at least 40 retirement credits, you will qualify for Medicare coverage when you reach the age of 65. Medicare is a health insura


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