Over the nine decades since the Social Security program was established, benefits have been paid to individuals who worked and paid into the system, as well as their family members. The qualification criteria have been expanded over the years, and different types of programs have been added to better serve the American people. This broadening of the program has helped millions, but it has also made the application process more confusing.
Today, there are three main types of Social Security benefits, each with its own name, qualification criteria, and maximum payment amount. We break down each type so that you can apply confidently for the benefits you’re entitled to while avoiding application delays.
Social Security Retirement Benefits
Social Security retirement is the most popular type of benefit, with over 56 million people receiving income from this program. These benefits provide a reliable, inflation-adjusted baseline for retirees who worked and paid into the system throughout their career.
Who is Eligible for Social Security Retirement Benefits?
To qualify for Social Security retirement benefits, you must have worked and earned “credits” throughout your life. You earn up to four credits per year of work and need a total of 40 credits to qualify for benefits at retirement – about 10 years of work.
There is also an age requirement for retirement benefits, and you can begin receiving them as early as age 62. However, your benefit amount will be permanently reduced if you claim before your Full Retirement Age [FRA] – which is 67 for people born in 1960 or later. You also have the option to delay benefits past FRA up until age 70, and doing so permanently increases your monthly benefit amount.
If you don’t have the necessary work history, but your spouse does, you may qualify for spousal or survivor benefits. These special types of benefits provide income to spouses who didn’t work or worked but earned less than their spouse, and surviving family members of workers.
How Much Can You Earn from Social Security Retirement Benefits?
Your benefit amount is based on income during the 35 highest-earning years of your career, and these salaries are adjusted for inflation. The maximum benefit in 2026 for a worker retiring at FRA is $4,152. However, most people earn less than this amount, with the average monthly benefit being $2,071.
Supplemental Security Income for Disability (SSDI)
Sometimes, a disability makes work impossible for people under retirement age. Fortunately, the Supplemental Security Income for Disability [SSDI] program provides necessary income for over 8 million people in this situation.
Who is Eligible for SSDI?
Qualification for SSDI is a difficult and often cumbersome process. Individuals with disabilities must prove that they cannot work for a year or more, their condition will result in death, or they are blind under the Social Security definition.
While the program is generally for people who cannot work due to their disability, there are provisions that allow SSDI recipients to earn some income and maintain their benefits. These individuals must earn less than the limit measuring “substantial gainful activity” [SGA], which is $1,690 per month for disabled individuals or $2,830 for blind people in 2026.
The disability qualification criteria are often the most difficult to overcome, but there is also a work requirement to consider. SSDI is also only available to people who have worked 5 of the past 10 years, though people under age 24 are held to a lower work requirement.
How Much Can You Earn from SSDI?
SSDI benefits come in two main parts – monthly payments and access to the Medicare program. Together, these benefits help provide access to the income and medical care that people with disabilities need to lead fulfilling lives.
The amount you can earn from SSDI is the same as Social Security retirement benefits – up to $4,152 per month – but most people receive less income than the average retirement check. The average monthly benefit for SSDI is $1,630 in 2026, or about $400 less than the average retiree earns.
If you meet the Social Security Administration’s strict definition of disability, you are also automatically enrolled in Medicare two years after the date you become eligible for SSDI. Special rules apply if you have end-stage renal disease or ALS, and they allow earlier access to Medicare.
Supplemental Security Income (SSI)
Supplemental Security Income [SSI] is a special type of benefit that is paid to people who have little income and assets. It can be combined with Social Security retirement benefits or SSDI to provide additional income for those who already qualify for these programs.
Who is Eligible for SSI?
To qualify for SSI, you must be age 65 or older, blind, or meet the Social Security definition of disability. You must also earn less than $2,109 from work each month as an individual, or meet a higher limit for couples and those who apply for benefits on behalf of children.
In addition to the income requirement, you must have less than $2,000 in assets as an individual or $3,000 as a couple. If you are applying for benefits for a child, these limits are increased by $2,000.
Assets generally include bank balances and other types of accounts or property. There are exceptions, however, for necessary assets like your home and a vehicle used for transportation.
How Much Can You Earn from SSI?
The maximum amount you can receive from SSI is $994 for an individual or $1,491 for a couple in 2026. As previously mentioned, these benefits can be received in addition to SSDI or retirement benefits, and act as a supplement in those cases.
The Social Security program can be difficult to navigate because of the different benefit types, qualification criteria, and cumbersome explanations. Thankfully, you don’t need to understand all the inner workings of the programs to maximize the benefit of the income you’ve earned. Instead, you can rely on impartial advice from a trustworthy financial advisor who has helped clients navigate the intricacies of Social Security for decades.
Get Help with Your Social Security Benefits from Meld Financial
At Meld Financial, we understand that Social Security can be a challenge to understand. Fortunately, we are here to answer our clients’ questions about benefit types, the application process, and maximizing lifelong income from this government program.
Along with Social Security, we help with the most important aspects of your retirement plan including investments, taxes, and Medicare coverage. We bring all these pieces of your financial puzzle together in a simple-to-understand program called Financial Fingerprint®. Best of all, this nimble plan adapts to your changing circumstances, keeping you on the path to retirement success.
To ask a question about your retirement plan or get started with Financial Fingerprint®, contact a member of our team today.
