How do I get the $16728 social security bonus? 

What is Social Security?

Most people don’t think about social security on a daily basis, and many Americans just know that they need to know their social security number. But Social Security is more than just a memorized number or little card that needs to be kept on file, social security is exactly as it sounds; a program to ensure stability over the course of your lifetime and especially into your elderly years. Before dissecting how to receive the $1628 Social Security bonus, it’s vital to understand the Social Security system. 

Social Security was started in 1935 as a federal program that the United States offers to American citizens to help everyday Americans secure financial security in their lives, especially during retirements. Social Security also helps those who are disabled and have other needs. Without Social Security, there would be severe poverty threatening the lives of everyday families and children within the United States. The social Security program was enacted for this reason to counteract poverty and loss of financial assets as one ages. 

The Social Security system is dependent upon everyday citizens paying their share towards securing their financial future in the program. This is done by paying to Social Security through taxes that come out of your payroll. The benefits of social security are typically acquired in retirement years to help you continue living a sustainable quality of life. 

Social Security Benefits

There are several different types of Social Security benefits including retirement benefits, disability benefits, survivor benefits, and supplemental security income, otherwise known as SSI. These benefits all have specific requirements and benchmarks that must be met in order to receive the social security benefits provided in that tier. All benefits, no matter the category, are based on factors such as income, disabilities, age, and many other qualifications. 

Retirement benefits from Social Security are the most well known of all the benefits, as a majority of working class citizens in the United States are working towards retirement. Retirement usually happens after the age of 65. Once you reach the age of retirement you can begin receiving 100% of your retirement benefits. 66 or 67 is the official retirement age depending on the year of your birth. If you retire earlier at around age 62, which is the earliest you can opt to retire, you will not be eligible to receive your full social security retirement package. If you retire even later past the age of retirement, you can receive up to 124% of your social security benefits if you retire at 70 years of age. 

Disability Benefits (SSDI), are benefits that are extended to people who cannot go to work because of a long-term or critical disability inhibiting their ability to work. The Social Security Administration has specific standards for what qualifies as a legitimate disability in order to receive social security benefits. You also have to have worked for a certain amount of time before receiving benefits. In some cases, family members and minors can receive the benefits that come from SSDI depending on the situation, the disability, age, number of years worked, etc. 

Survivor’s Benefits are benefits that families, including children, spouses, and other qualified family members can receive if a worker in the family is deceased. The purpose of these social security benefits is to help survivors of the deceased worker continue receiving financial aid in order to help curb living costs. Survivors can be appointed benefits in one payment, or receive a monthly payout. It all depends on a family member’s connection to the deceased worker, their ages, and the total lifetime income of the deceased family member.

Supplemental Security Income (SSI), is a benefit program to help those who are elderly, visually impaired, or have disabilities in combination with low income. This type of Social Security benefit was not built around earning history or years worked, but instead is based on helping those who cannot meet the usual standards but need the help. These costs can help those who are struggling with everyday living costs when it comes to food, clothing, housing, and other basic necessities. This is a provision for those who are not able to provide for themselves because of certain obstacles as mentioned. 

Auxiliary Benefits are simply benefits that family members such as spouses, minors, children, adult children, and adopted children who are dependent on retirees can receive. These benefits come with many qualifications and eligibility standards as well. These benefits also depend on age and earnings. 

Enrolling in Social Security

Enrolling in Social Security doesn’t happen automatically at birth, although you are assigned a social security number, there is an enormous amount of paperwork that goes behind actually being enrolled in the federal benefits program. 

If you are new to enrolling in Social Security you will need documentation to prove your qualifications. These documents include a social security number/card, birth certificate, USA citizenship certificate, and W-2 forms.

Make sure you are familiar with the specific program that you will enroll in whether it be survivor benefits, retirement, or disability benefits. These distinct programs require that you provide further documentation in order to receive benefits. 

You may also be asked to provide bank information if you are going to opt to receive your benefits in the form of a direct deposit or check.

Enrolling in Social Security can be completed online at the Social Security Administration’s website. Here you can create an account that will give you access to all of your social security benefit information and documentation. You can also call the Social Security Administration and enroll via contact with a Social Security Representative. Lastly, you may also meet with a Social Security employee at your appointed Social Security office. This requires scheduling ahead of time in order to complete the application. 

Once you have submitted all your documentation the Social Security Administration will begin processing your paperwork. Sometimes additional supplemental documentation and proof is required, and you will be notified if that is the case. After all documentation steps are completed, you will receive notice of approval and can begin receiving benefits at the appointed time depending on your eligibility status. 

What is the $16728 Social Security Bonus?

While there is no concrete or guaranteed $16729 Social Security bonus benefit that is offered to those enrolled in the social security system, there is a possibility for receiving up to or more than this amount depending on various factors. As with every benefit or bonus in the Social Security program, most requirements stem from age, earnings, and work history, even for those who are receiving disability benefits. In regards to the $16728 Social Security bonus, that same criteria apply, and more. 

It’s important to note that every year there is a maximum amount for how much you can receive in benefits and it changes depending on certain factors set by the Social Security Administration. There are various rates involved in setting maximum benefits amounts that are also determined by earnings, age, and work history.

To work towards acquiring a $16728 “bonus”, there are some things you should consider or can do in order to accrue higher bonuses in the social security program. This includes things like not enrolling in early retirement, and even better waiting until 70 to retire. Also, it’s important to work as much as you can and fit in as many work years as you can before your age of retirement. You must have worked at least 35 years to begin maximizing the amount you can receive in social security benefits. Having a job with a higher salary also helps in optimizing the amount of bonuses you can receive from social security. 

The $16728 bonus is not a lump sum provided by the federal government but is instead a lifetime amount that you can work up to if you set the right goals towards the amount you want to receive. Your work history, earnings, and age are going to set your trajectory to receiving up to $16728 in social security bonuses over your lifetime. Additionally, it’s crucial to understand when and how to claim specific benefits and have the right timing in order to maximize your benefits. 

Gaining a $16728 bonus is not a guarantee from the Social Security Administration, but it is a monetary figure that you can work on attaining through wise and planned out financial decisions.