Category: Social Security

New Reports Highlight Continuing Challenges for Social Security and Medicare Most Americans will receive Social Security and Medicare benefits at some point in their lives. For this reason, workers and retirees are concerned about potential program shortfalls that could affect future benefits. Each year, the Trustees of the Social...

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events,...

Sources of Retirement Income: Filling the Social Security Gap According to the Social Security Administration, more than nine out of ten individuals age 65 and older receive Social Security benefits. But most retirees also rely on other sources of retirement income, as shown on this chart: Source:  Fast Facts...

When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier. Your family may be entitled to receive survivor benefits based on your work record When you die, certain...

Is 62 your lucky number? If you’re eligible, that’s the earliest age you can start receiving Social Security retirement benefits. If you decide to start collecting benefits before your full retirement age, you’ll have company. According to the Social Security Administration (SSA), approximately 72% of Americans elect to receive...

When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier. Your family may be entitled to receive survivor benefits based on your work record When you die, certain...

What is it? After the death of your spouse, you may be eligible to receive survivor’s benefits and death benefits from government sources, from your spouse’s employer, and from retirement plans. Social Security benefits Social Security survivor’s benefits If your spouse (or former spouse) was self-employed or employed in...

What happens if I start collecting Social Security after full retirement age? Answer: You’ll get a bigger check every month. However, how much bigger depends upon what year you reach full retirement age, and how long you postpone collecting benefits. If you were born in 1943 or later, you’ll...

Should I retire now at age 62 and collect Social Security benefits, or should I wait until full retirement age? Answer: There’s no right time to begin collecting Social Security benefits, but the age at which you begin receiving benefits will affect how much retirement income you have, so...