1. You’re Planning Your End-of-Life Care
The Social Security Administration stops paying your benefits once you pass away, so if your death occurs before you start collecting benefits, you’ll have failed to take advantage of benefits entirely. Instead, you should find ways to maximize your Social Security income. For instance, let’s say you’ve decided to wait until age 70 so you can sign up for larger Social Security benefits.
If you die prior to your 70th birthday, you won’t get any benefits. Yes, it’s impossible to know exactly how long you may live, especially when you’re in good health.
However, if you’re struggling with a serious or terminal illness, delaying monthly retirement payments in order to get greater benefits may not be worth it. Instead, claiming Social Security early in these conditions proves to be a wiser move.
Some basic information that every retiree needs to know in evaluating when to pull the trigger on Social Security Benefits. Thank you.
We tried but were denied.
Why can a widow not claim her husbands survior benefits if married 38 years if she worked for a City government and she only get $350 and she would receive $1000 on his side which would help her payoff the credit card debt he left her on her card-they say it is because of her City check is a little higher but that should not factor into it – she supported him for 38 years – WHY can’t she not get the beneft to help pay off the credit card?
I hope that people making the decision of when to take their social security payments know that it is taxable income(when you start receiving payments). I believe it is part of a formula, but just be aware it could increase your income taxes. So you may want to talk to/with your tax prep person or accountant????
I have worked past 16 yrs at fire depth and we do not pay into social security. So I imagine my mo benefit will be quite low even tho I made a good salary. If I wish to check my ex husband’s account to see which would be higher…how do I go about doing that? Seems they want you to do all online nowadays but don’t find where to check ex spouses numbers. (Married 16 yrs)