The Social Security program is extremely important to a significant percentage of American senior citizens. However, you should certainly recognize the limitations because benefits are often quite modest. At the same time, the income will help. You may hear that you could start to collect a monthly Social Security benefit when you are 62 years of age. This is true, assuming you paid into the program sufficiently during your working career. The FICA or self-employment taxes that you pay go … [Read more...] about When Do You Qualify for Social Security?
They say that days seem to drag on forever, but years pass far too quickly. Without question, it can be kind of shocking to sit back and see how rapidly time flies. This applies especially to the approach of your senior years. The sooner you start to prepare yourself, the better. One step will be to educate yourself about the government retirement benefits that you can expect to receive. With this in mind, we will look at some key facts about Social Security and Medicare. To warn you in … [Read more...] about Understand Government Retirement Benefit Programs
If you find that your Social Security check is not going to be enough to fund your lifestyle as a senior citizen, what do you do? The logical course of action would be to continue working until you reach the point where it is simply not necessary anymore. One very common question that arises with regard to working and Social Security involves a potential reduction in Social Security benefits. The age of full Social Security eligibility varies depending on the year of your birth. For those … [Read more...] about Answering a Common Social Security Question
It is very important to be clear-eyed and practical about the future. Adopting a false sense of security because of the fact that you will be receiving Social Security benefits can be a big mistake. Social Security benefits are actually relatively modest so be careful not to overestimate the value of this program. The average monthly benefit in 2013 for a single person is $1261 according to a recent Forbes article. The average benefit for married couples is $2048. Clearly, the average payout … [Read more...] about Recognize Modest Nature of Social Security Payouts
We have massive numbers of people applying for Social Security every day because of the maturing of the baby boomer generation. There are around 10,000 seniors applying daily, and this volume is expected to continue for perhaps 20 years. Because so many people are approaching retirement age these days, there are some basic questions circulating, and we would like to address three of the most common ones here. What Is the Application Process? Applying for Social Security is a lot easier and … [Read more...] about Answers to Three Common Questions About Social Security
Certain unique challenges go along with entering different stages of life. Fortunately, there are resources available to help us address these matters. If you have worked throughout your life and contributed into the programs, you will be eligible for Social Security and Medicare. The age of eligibility for your full Social Security benefit is between 66 and 67 if you are not already receiving your benefit. The exact date of your eligibility will depend on the year of your birth. Medicare is a … [Read more...] about Gain An Understanding Of Programs For Seniors