Can You Buy Social Security Credits?

Someone asked me if his wife could buy credits to hit the 40 needed for social security. Is that a thing? Seems unrealistic to me and everything I’ve read suggests that is incorrect.

No, Social Security credits cannot be purchased. Credits are earned only through income from work. The Social Security Administration (SSA) requires individuals to accumulate a certain number of credits over their working life to qualify for Social Security benefits, such as retirement, disability, or survivor benefits.

How Are Social Security Credits Earned?

Social Security credits are earned based on your annual income. In 2024, for example, you earn one credit for every $1,730 in covered earnings, and you can earn a maximum of four credits per year. The amount required to earn one credit changes each year to account for inflation and wage growth.

To qualify for most Social Security benefits, you need to have earned 40 credits, which typically means at least 10 years of work. The credits do not need to be earned consecutively, and once you've earned them, they remain on your record even if you stop working.

Why Can't Social Security Credits Be Purchased?

The requirement to earn credits through work is foundational to the Social Security system. It ensures that benefits are distributed based on a person's contributions to the system over time. Allowing the purchase of credits would undermine the principle that Social Security benefits are tied to a person’s work history and earnings. The system is designed to provide a safety net for those who have contributed to it, not to those who simply have the financial means to buy into it.

What If You Don’t Have Enough Credits?

If you don’t have enough credits, you won’t be eligible for Social Security retirement benefits, but there are a few options:

• Continue Working: The most straightforward way to earn additional credits is to continue working until you’ve accumulated enough.
• Spousal Benefits: If you're married and your spouse has enough credits, you might be eligible for spousal benefits even if you don’t have the 40 credits yourself.
• Disability Benefits: If you become disabled and haven’t earned enough credits, you might still qualify for Supplemental Security Income (SSI), a needs-based program that doesn’t require credits.

Social Security credits are crucial for determining eligibility for various benefits, but they can only be earned through income from work. If you’re concerned about not having enough credits, it’s important to plan ahead and understand your options. You can’t buy credits, but you can take steps to ensure you earn them over time.

The content on this blog is for informational purposes only and is not legal, financial, or professional advice. Social Security rules change periodically, so some information may become outdated. For the most accurate advice, consult a certified National Social Security Advisor (NSSA®). Social Security Professionals, LLC, and NSSA® are not responsible for any errors, omissions, or actions taken based on this blog's content. Use of this blog does not create a client relationship, and all information is provided "as is" without guarantees. By using this blog, you agree to hold Social Security Professionals, LLC, and NSSA® harmless from any claims or liabilities arising from its content. For personalized guidance, contact an NSSA® professional.