Having a teenager myself, I see so many articles encouraging young folks to go into skilled trades. The idea is fabulous – leave high school with an in-demand trade in which you can start out making a very good income. With the rising cost of higher education and the shifting job market, this option looks more and more appealing all the time.
But just as the decision may look great in the short term, there are certain long-term considerations for those who choose this path. As a practicing Social Security Disability attorney, many of my clients are people who have worked physically demanding jobs and by the time they are in their 50s, their bodies are worn down. Many have significant back conditions. Many have had injuries to their necks, shoulders and hands. Social Security recognizes that those workers who have done physically demanding jobs all their lives and are older than 50 years old will have a significantly more difficult transitioning to less physically demanding jobs if an injury prevents them from continuing with their chosen trade.
So, what should this young person do to protect themselves? Absolutely start saving money early and build up a significant nest egg. Take the money you might have spent on college and invest it in your future. You should also spend the money to invest in a short and long term disability policy, be that through your employer or through a private insurance company. Even though, as I stated earlier, Social Security recognizes that those workers will have a more difficult time continuing to work and are often more likely to get approved for benefits, if you find that you must file for Social Security Disability it can take up to two years before you will start seeing any money come in. I’m always so relieved to hear that a client has long term disability that they can rely on to get them through that time in between.
One other consideration for this group of workers. If you are self-employed or an independent contractor, please understand that the amount of money you receive from Social Security Disability or Retirement will depend on how much you’ve paid in over what period of time. While showing little to no income on your tax returns might help you in the short term, you might be cut off from receiving benefits down the road.