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By BRUCE A. HUNDLEY
Rappahannock News Contributing Writer
So you’re “thirty-something” and you have worked for 10 years or more. You’ve been paying into Social Security all that time. And now’ you’re thinking about the years that lie ahead until you’re “sixty-something” and can start receiving Social Security retirement benefits.
The good news is that you may have already worked long enough to become eligible for benefits when you reach retirement. The bad news is you need to keep working.
In addition to working for the money you need for the necessities and luxuries in your life, you’ll need to work to increase the amount of your Social Security retirement benefit. If you were able to retire at “thirty-something” after acquring the maximum credits needed to qualify for Social Security (40 credits-equivalent to 10 years-of work) your benefit amount would be far below the amount you would receive after working 30 or more years at higher wages.
In general, a Social Security benefit is based on your earnings adjusted for inflation and averaged over your highest 35 years.
But there’s more to Social Security than just the monthly checks you’ll receive when you retire. All through those years you are working and paying into Social Security, you and your family are protected by the disability and survivors’ programs.
This means that if you become disabled and are unable to do any kind of work for which you are suited for at least 12 months, you could receive monthly Social Security disability checks.
The chances of becoming disabled are not as remote as you may think. Studies show that one out of four young workers will become disabled some time during his or her lifetime. If that happens to you, not only would you receive Social Security benefits, but your spouse and young children may qualify as well.
If you die before reaching retirement age, members of your family
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