What would you do if you retired at age 62, and live another 30 years? Your benefits will run out if you only have 20 year annuities to pull from.
Social Security Calculators can help you determine how much Social Security benefits you will receive, but you can refuse them until you are 70 or even older so your amount monthly is more.
This way, when your annuity payments or other retirement benefits run out, you still have Social Security to rely on, and your monthly amount will be higher because you waited to take the money.
Another question to consider is, how is my health history? If you come from a family that tends to live long, you may want to postpone taking the benefits so that you have a larger benefit to live on in the later years.
Studies have shown that as people age, more of their income needs are being met by Social Security. Since Social Security benefits have inflation adjustments, the larger monthly payment could be beneficial if or when personal savings start to run low.
Today, the statistics are growing even more, as many unemployed seniors aged 62 and up have filed for early benefits to cover their expenses as they struggle to find work again and the paychecks start flying in. Since the economic recession, unemployment figures have also been on the rise, along with retirees who've filed for early Social Security benefits.
Procrastination seems to be the rule rather than an exception when it comes to filing applications for social security benefits. There are quite a few out there who end up creating unprecedented delays in filing their applications.
Most of these people end up waiting for more than several months before applying for these benefits that they are entitled to. Some people decide to wait, as they remain unsure about their eligibility while others do not realize the benefits that these schemes can offer.
For those who have very little information about these Social Security Disability Benefits it is important to learn why these schemes are so useful. The entire procedure is fast and simple; making it easier for you to avail the benefits right from the day you make the request.
Social Security Calculators can help you determine how much Social Security benefits you will receive, but you can refuse them until you are 70 or even older so your amount monthly is more.
This way, when your annuity payments or other retirement benefits run out, you still have Social Security to rely on, and your monthly amount will be higher because you waited to take the money.
Another question to consider is, how is my health history? If you come from a family that tends to live long, you may want to postpone taking the benefits so that you have a larger benefit to live on in the later years.
Studies have shown that as people age, more of their income needs are being met by Social Security. Since Social Security benefits have inflation adjustments, the larger monthly payment could be beneficial if or when personal savings start to run low.
Today, the statistics are growing even more, as many unemployed seniors aged 62 and up have filed for early benefits to cover their expenses as they struggle to find work again and the paychecks start flying in. Since the economic recession, unemployment figures have also been on the rise, along with retirees who've filed for early Social Security benefits.
Procrastination seems to be the rule rather than an exception when it comes to filing applications for social security benefits. There are quite a few out there who end up creating unprecedented delays in filing their applications.
Most of these people end up waiting for more than several months before applying for these benefits that they are entitled to. Some people decide to wait, as they remain unsure about their eligibility while others do not realize the benefits that these schemes can offer.
For those who have very little information about these Social Security Disability Benefits it is important to learn why these schemes are so useful. The entire procedure is fast and simple; making it easier for you to avail the benefits right from the day you make the request.
from SOCIAL SECURITY BENEFITS EXPLAINED - Blog http://ift.tt/1OekE7v
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