Why is it so hard to retire?
Preparing for retirement is becoming more difficult for millions of Americans. Many workers don’t have access to a pension, increased costs of living are making retirement more expensive than ever, and student loans and other forms of debt are making it harder to save. For those reasons, many retirees are falling back on Social Security…
What are survivors?
3. Survivors. If you’re financially dependent on someone and that person passes away, you may qualify for survivors benefits. Widows and widowers are generally entitled to survivors benefits after a spouse passes away.
How much does a retiree get in Social Security?
The average retiree can expect to receive more than $1,500 per month in benefits, according to the Social Security Administration, which can help them live more comfortably. In order to be eligible for Social Security benefits, …
Who is Katie Brockman?
Katie Brockman is a personal finance and retirement writer who enjoys geeking out about 401 (k)s, budgeting, and Social Security. When she’s not providing unsolicited financial and retirement advice to anyone who will listen, she enjoys reading, drawing and painting, and walking dogs at her local animal shelter.
Do spousal benefits affect spouse?
Spousal benefits do not affect the amount your spouse will receive, either. In other words, your spouse won’t receive less each month if you were to claim spousal benefits based on his or her work record. To qualify for spousal benefits, you must be married and at least 62 years old.
Why are retirement benefits so expensive?
Many workers don’t have access to a pension, increased costs of living are making retirement more expensive than ever, and student loans and other forms of debt are making it harder to save. For those reasons, many retirees are falling back on Social Security benefits to make ends meet during their senior years.
How long do you have to work to collect Social Security?
In order to be eligible for Social Security benefits, you generally need to have worked and paid payroll taxes for at least 10 years. However, there are a few ways you can collect benefits even if you’ve never worked a day in your life. Image source: Getty Images.
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