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social security
The Fundamentals of Disability Insurance
Disability insurance pays benefits when you are unable to earn a living because you are sick or injured. Most disability policies pay you a benefit that replaces a percentage of your earned income when you can’t work. Why would you need disability insurance? Your chances of being disabled for longer than three months are much…
Read MoreSocial Security's looming $32 trillion shortfall
Originally posted on CNBC – we thought this was a very relevant topic. —————————————————————- You can look at the financial health of Social Security in many ways. The official version, found in the Social Security and Medicare Boards of Trustees’ annual report, is this: Social Security’s total income is projected to exceed its total cost…
Read MoreI'm getting remarried. How will this affect my Social Security benefits?
If you’re receiving benefits based on your own work record, your benefits will continue. If you’re receiving spousal benefits based on your former spouse’s work record, those benefits will generally end upon your getting remarried, but you may be able to receive benefits based on your new spouse’s work record, or on your own. If…
Read MoreSocial Security Retirement Benefit Basics
Social Security benefits are a major source of retirement income for most people. Your Social Security retirement benefit is based on the number of years you’ve been working and the amount you’ve earned. When you begin taking Social Security benefits also greatly affects the size of your benefit. How do you qualify for retirement benefits?…
Read MoreSocial Security Retirement Income: a Primer
What role does Social Security play in your retirement income strategy? As you near retirement, it’s likely you’ll have many questions about Social Security. How much will your retirement benefit be? When should you apply? Will earnings from a part-time job affect your benefit? Social Security has always been a major source of income for…
Read MoreFive Questions and Answers about New Social Security Claiming Rules
When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules…
Read MoreUnderstanding Social Security
Over 63 million people today receive some form of Social Security benefits. (Source: Fast Facts & Figures About Social Security, 2014) But Social Security is more than just a retirement program. Its scope has expanded to include other benefits as well, such as disability, family, and survivor’s benefits. How does Social Security work? The Social…
Read MoreEvaluating an Early Retirement Offer
In today’s corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you’ve received is a good one? By evaluating it carefully to make sure that the offer fits your needs. What’s the severance package?…
Read MoreSocial Security Survivor's Benefits and the Lump-Sum Death Benefit
What is it? When planning your estate, consider how much your survivors might receive from Social Security. Social Security survivor’s benefits can provide much-needed income to your family and ensure that their financial life after your death is easier. Who will be eligible to receive survivor’s benefits after your death? Knowing your insured status is…
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