|
|
Social Security Survivor Benefits- The Thing Women Should Know About
When Social Security was launched back in 1935 it was normal for women to stay home to raise the family. In a large number of families the husband was the major earner or the only earner in the household. Furthermore, women statistically outlive men, particularly if the wife is younger compared to the husband.
The coincidence of lower or no income and a longer life span meant many women got themselves in poverty at the time their husbands died, as their husband's Social Security retirement benefits expired at their death. The Social Security Board recognized the problems that women face and have adopted several adjustments to the system over the years to account for these requirements.
One of the first amendments to the Social Security plan was to permit women to apply for benefits at 62 in place of waiting until 65 under the assumption that they were younger than their spouses and that they would like to retire simultaneously.
Then in 1939 two other categories of benefits were added: Social Security survivor benefits and dependent benefits (to be paid to the spouse and minor kids of retired employees).
These modifications transformed Social Security from a retirement plan that only paid benefits to retired employees into a family-based system, where spouses and children may receive benefits of retired, disabled or deceased workers. This was an incredible help to women who were not eligible for retirement benefits on their own, or who had considerably smaller benefits than their husbands.
Today, although it's not strange for women to earn as much or greater than their spouses, they however may take time off to raise families, and they still typically live longer than their spouses. Similarly, the number of divorced women attaining retirement age is higher than it has ever been. As a result of of this, a number of women still get Social Security spousal benefits or survivor benefits rather than benefits based on their own job period.
So it's necessary for women - no matter what their relationship status is - to learn the spousal and survivor benefits open to them along with the retirement benefits so they can get the highest benefits they are eligible to.
Social Security Benefits: Ideas To Help You Make The Most Of Your Social Security Retirement Income
As you get closer to retirement, choosing when to take your Social Security may seem like rolling the dice. There are so many decisions to make, such as:
How You Will Find The Ideal Financial Planner To Reach Your Financial Goal
Many people hire financial planners to help them meet their financial goals. Whether you are a beginner investor with very little experience or whether you have a good knowledge and understanding of financial planning topics, a financial planner can be a valuable asset when planning for your financial goals.
A Few Key Points Which You Must Know About Social Security Spouse Benefits
When most people think about Social Security, they naturally think of retirement benefits. However about 1/5 of all Social Security benefits are spousal or survivor benefits, so when you're planning for retirement, it's important to consider the fact that you or your spouse may collect Social Security survivor benefits
Discover How To Apply For Social Security
If you areapproaching retirement, you are probably already looking into how to apply for Social Security benefits. Generally, you can apply once you are within 120 days of your 62nd birthday. There are several things you should know to make the application process as smooth as possible.
With Regards To Social Security Disability: What You Ought To Be Aware Of Ahead Of Filing For Disability Benefits
Most people think of retirement when they hear Social Security, however Social Security provides benefits to people who are disabled as well. The list of requirements that must be met for Social Security disability benefits is pretty long, and many people don't meet those requirements.
Social Security Eligibility Rules: What Are The Requirements For A Homemaker To Collect Social Security?
When Social Security was first established, most families only had one bread-earner, and only the working spouse qualified for retirement benefits. This caused financial difficulties for the spouse who didn't work (and therefore didn't qualify for Social Security) if the working spouse passed away first.
3 Great Reasons To Use A Fee Only Financial Planner
There are three different types of financial advisors: the commission broker who sells a product for a commission, the fee-based advisor who provides investment management for a percentage of the assets invested, and the fee only financial planner who provides a comprehensive financial plan for an hourly fee.
Social Security Death Benefits Can Certainly Help Monetarily Once Husband Or Wife Or Other Loved One Has Passed Away
Qualifying relatives of individuals who have passed away can receive assistance from social security death benefits. The payments provided vary and depend on a number of things such as the payments that have been made to social security as well as the relationship of the relative to the individual.
|
More Articles
Blogroll
|
