Present Situation Regarding Social Security Spouse And Survivor Benefits When Social Security was initiated back in 1935 it was usual for women to remain inside home to raise the family. In the majority of families the husband was the higher earner or the only earner in the family. In addition, women statistically survive longer than men, particularly if the wife is younger than the husband. The coincidence of lower or no income and a longer life span meant many women noticed themselves in poverty when their husbands passed away, as their husband's Social Security retirement benefits ended at their death. The Social Security Board realized the issues that women face and have implemented several modifications to the system over the years to account for these requirements. One of the first amendments to the Social Security plan was to allow women to apply for benefits at age 62 instead of waiting until 65 under the theory that they were younger than their spouses and that they would want to retire simultaneously. Then in 1939 two other categories of benefits were added: Social Security survivor benefits and dependent benefits (to be paid to the spouse and minor children of retired workers). These changes changed Social Security from a retirement plan that only paid benefits to retired workers into a family-based plan, where spouses and children are able to receive benefits of retired, disabled or deceased workers. This was an enormous help to women who did not qualify for retirement benefits on their own, or who had significantly smaller benefits than their spouses. Today, even though it's not unusual for women to earn as much or more than their spouses, they however may take time off to raise families, and they still typically live longer than their spouses. In addition, the number of divorced women reaching retirement age is greater than before. As a result of of this, many women still get Social Security spousal benefits or survivor benefits rather than benefits depending on their own job records. Therefore it's important for women - regardless of their relationship status is - to understand the spousal and survivor benefits offered to them as well as the retirement benefits so they can get the optimum benefits they are entitled to. Social Security Benefits: A Helpful Discussion On Terms To Obtain The Benefit And How To Get After A Family Member's Death The loss of a family member can be devastating, both emotionally and financially. Social Security is meant to be a survivor program as well as a retirement program. Most people are aware of Social Security retirement benefits, but are you aware that there are Social Security death benefits as well? Social Security Old Age Earnings: Suggestions To Help You Maximize Your Social Security Retirement Income As you get closer to retirement, choosing when to take your Social Security may seem like rolling the dice. There are so many decisions to make, such as: How You Will Get The Perfect Financial Planner To Reach Your Financial Goal Many people hire financial planners to help them meet their financial goals. Whether you are a beginner investor with very little experience or whether you have a good knowledge and understanding of financial planning topics, a financial planner can be a valuable asset when planning for your financial goals. How You Will Proceed With Social Security Survivor Benefits After Your Spouse Passes Away When Social Security was first established, it only paid retirement income to workers who qualified. It was later amended to include benefits for spouses and survivors, which made it more of a family or insurance plan, instead of just a retirement plan. How You Can Enhance Your Credit Check Score In 5 Simple Steps Having a good credit check score is an absolute must in today's lending environment. In this lagging economic environment, your credit check score is certainly more important than ever. Payday Loans:Understand More About It. Have you ever found yourself in an emergency situation? Do you require a substantial amount of money fast but don't know where to get it? Payday loans may be just the thing you need. Tips To Submit An Application For Social Security Benefits Social Security was originally created to provide retirement benefits to workers, but the program has grown tremendously and now Social Security provides disability benefits, death benefits and other family benefits in addition to retirement benefits. Discover Tips On How To Apply For Social Security If you areapproaching retirement, you are probably already looking into how to apply for Social Security benefits. Generally, you can apply once you are within 120 days of your 62nd birthday. There are several things you should know to make the application process as smooth as possible. How Are Social Security Benefits Calculated? A Few Things & Factors Having Effect On The Benefits One of the most popular Social Security questions that I hear from baby boomers getting ready to retire is "how are Social Security benefits calculated?" This is an important question because it could affect how long you need to work, whether you should continue to work during your retirement years |
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