Is it a lost cause? You're missing some social security work credits to be eligible for a pension. You moved outside the US years ago. What can be done to obtain the remaining credit you need?

Is it a lost cause?

You're missing some social security work credits to be eligible for a pension. You moved outside the US years ago.

What can be done to obtain the remaining credit you need?

To be eligible for a social security pension from the US government, you must have 40 credits. You can earn up to only 4 credits per year, no matter how much you make.

So that comes out to 10 years of work if you made the threshold each year for the 4 credits.

The amount of each credit is $1,730 for 2024. So 4 credits would be $6,920. Not a huge amount of money at all.

These credits can be obtained through earned income, which is income through a regular job (wages), or self-employment. As opposed to investment income, which is called unearned income and does not earn credit.

So being paid on a W-2 earns you credit each year. Self employment income, whether you received a Form 1099-NEC as an independent contractor, or not, is counted as well.

If you moved abroad, it may be quite difficult to get a remote W-2 job. This may be incompliant with local employment laws as well. Self employment is the answer.

Figure out how many credits you still need - your yearly social security statement is the best resource for this. It's mailed once a year, but you can get it online as well. Then, figure out how many years this will take. (Note that the point threshold amounts go up each year).

Now, find something you're skilled at which you can do as self-employed. You don't need to earn much to gain four credits per year - it's only $6,920 for 2024.

There are many sorts of unskilled remote jobs you can do as well. Data entry is something anyone can do. Maybe you have a skill you can tutor people on? If you know two languages, you can give English lessons.

File a tax return each year, reporting your self-employed income. Once you reach 40 points, you can finally retire!

All that will be left to do is to apply for the social security pension. Now you'll be getting monthly payments, for life. With yearly inflation increases.

Your spouse, if ineligible for social security by virtue of themselves, can receive a monthly payment equivalent to 1/2 of your payment amounts, as well. Non US citizen spouses can also qualify.