5 Key Question’s Baby Boomers Must Ask Before They Retire: Q4: When is my spouse planning to retire?

4) When is my spouse planning to retire? A spouse with a shorter work history (e.g., 20 or 25 years) can realize a bigger increase in Social Security benefits by working three extra years than a spouse with a 40-year work history. Spouses also need to determine where they will live and what type of activities they will engage in once retired. They will also need to assess the feasibility of their goals. Please follow…

5 Key Question’s Baby Boomers Must Ask Before They Retire: Q3: When should I claim Social Security?

3) When should I claim Social Security? Postponing claiming Social Security benefits from age 62 until age 70 increases the size of the benefit by about 75%. Delaying impacts not only the benefit at the time of claiming, but also the survivor benefit for married couples. The Society of Actuaries says nearly half of widows have no other income than Social Security. Please follow and like us:


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