The loss of a member of family might be devastating for family members, both equally psychologically as well as on a financial basis. Social Security is intended to be a survivor program in addition to a retirement program. We are going to discuss one-time lump sum social security death benefit, monthly social security survivor benefits, whom qualifies for survivor benefits, and how you can apply for benefits whenever a family member passes away. (more…)

It is common when most people talking about Social Security, they are also thinking about retirement benefits (retirement planning benefit and retirement transition benefit). But about one-fifth of all the benefits of social security benefits are the surviving spouse. So, if you plan for retirement, it is important to plan for you or your spouse to social security spouse benefits at some point in their lives. Is it possible for a non working spouse who does not receive retirement income from Social Security, to collect as the income of her husband for? (more…)

In developing a retirement plan there are several factors to consider in addition to the amount you need or want to save.

1. Income Taxes.

The above discussion did not take into consideration income taxes. You might have to save more if you have to pay income taxes on all or part of your retirement benefit or your contributions. Distributions from qualified employer plans are always subject to retirement income tax. (more…)

As early as age 62, spouses can collect either on their own career benefits, or take 50 percent of their spouses’ benefits, whichever is greater. The non-working spouse can begin to collect on the other’s record only if the working spouse has already begun receiving social security spousal benefits, a small but very important point. If the non-working spouse is taking care of a child under the age of 16 or who is disabled, then those benefits can begin before the earliest retirement age of 62 under other circumstances. (more…)

In 1999 the Social Security Administration (SSA) began mailing Social Security statements annually to all adults 25 and over about three months prior to their birthdays. In the statement, you receive an estimate of your benefits under the most current laws, and a record of your social security statement of earnings upon which your benefits are based. If you do not have this statement, you need to get one. Call 800-772-1213 or go to www.ssa.gov and request a statement order form. Because this is sensitive personal information, it is not available online. You have to mail a form to the SSAand wait for a response in four to six weeks. (more…)

Everyone is needed financial security in some current stage of their life. While financial security in retirement is involving more freedom from fear and anxiety about having sufficient financial resources in later life. Whether considered from an individual perspective or from a societal view, the attainment of financial security in retirement may hold challenges. (more…)

In the U.S. the laws that apply in a divorce fall under the jurisdiction of each state. Some things may vary from state to state but which is usually constant when the alimony of the spouses is meant is that this can be paid by both the husband and the wife. (more…)

You may have a general idea of how much income you expect to receive after you quit working, but to be on the safe side, you ought to know exactly what this amount will be. For example, how much retirement income will you receive from each of the following sources: (more…)

Do you want your retirement years to be lively? Is your current job, or career, fulfilling for you? If so, then maybe you are going to be joining the happy, busy ranks of those, more than 70% according to a recent A.A.R.P. survey, who are planning a “working retirement.” If working past your retirement date seems grim, then cheer up. There is a silver lining if you know where to look.

1) Continuing at your current job has its positives - you know the job. There are no learning curves, or the awkwardness of being the new kid. (more…)

Some early retirement survey focused almost exclusively on men when making retirement decision. Until recently, woman may have some decisiveness which affected retirement decision for her and her husband. Recognition of the difference point of view add some complexity on making retirement decision. Off course, the retirement decision is varied beyond gender and economic issues. Substantial differences in health condition, employment market, family finance situation, and care giving responsibility can lead to the differences timing of retirement. (more…)