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Learn About Social Security

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Social Security provides a basic retirement income.

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The Age You Claim

Has a Dramatic Effect on Monthly Benefits

These benefits rise as prices rise & keep coming as long as you live.

 

 

Social Security “Survivor Benefit”

Makes Claiming Later Especially Attractive For Married Men

Widows often suffer a decline in living standards, as their incomes often fall more than their expenses. But

  • Widow(er)s can get their spouse’s monthly benefit in place of their own — Social Security’s “survivor benefit.”
  • Survivor benefits almost always go to widows:
    • Most survivors are women, as wives are generally younger than their husbands and women generally live longer than men.
    • Most wives have lower monthly benefits, as they generally earn less and start to collect at younger ages than their husbands.
  • So claiming later, and raising your wife’s monthly benefit as your survivor, can have a dramatic effect on your wife’s well-being as a widow.

Retiring & Claiming

They're 2 Different Things

  • You can continue to work after you claim
    • Before your Full Retirement Age, however, some of your benefits might be withheld, then restored when you reach your Full Retirement Age.
  • You don’t have to claim when you retire
    • If you have enough savings you could delay claiming, using a portion of your savings to live on. You would draw down your savings more quickly, but increase the inflation-proof Social Security benefit you and your survivor – if your benefit is higher – will get for the rest of your life.  For more, see Figure Out How to Get Income from Retirement Savings.

For More Information

Download Our Social Security Claiming Guide

CLICK HERE to get our Claiming e-Guide.

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