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what's the difference between SSI , SSD With your 40 dreditsat age 64????? Do I have to apply for Disability or is it changed over when 40 credits are reached?
In a nutshell SSI is for people that have never worked and paid into the system. SSD is for people that have worked and paid into the system
SSI stands for Supplemental Security Income and is an (low) income eligible program that is publicly funded. It is a welfare program. SSD is Social Security Disability and is usually higher than someone who chooses to draw their Social Security Benefits before they reach their full benefit age. Social Security is not an income eligible program because it is a government insurance that we pay into for our retirement while we are employed. Social Security Disability benefits are paid under Social Security to workers who become disabled before they reach their full benefit age or disabled adult children (over 21 years of age), whose parent(s) are either deceased or drawing their Social Security benefits. While you have to be of very low income to qualify for SSI, you can be a multi-millionaire and still draw benefits under Social Security. In order to draw Social Security Disability benefits, you must be determined physically or mentally unable to work. The Social Security Administration will advise you which benefits you best, to draw SSD or your regular Social Security benefits. They will always advise you which is best for you financially.
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