• 1 in 5 20-year olds will have a disability before age 67
• For those that lose a spouse at a young age, Social Security benefits are available to your children until they reach age 18 (or they finish high school)
• The number of workers per Social Security benefit recipient is decreasing:
- 5 to 1 in 1960
- 3 to 1 in 2004
- 2 to 1 in 2030 (projected)
(I guess we can all see why the system is in trouble?)
• Within 12 months of your initial receipt of Social Security benefits, you can have a "do over." You must repay the benefits received (this is a once-in-a-lifetime opportunity) and you can reset your benefit amount.
• For those now divorced – if they were married to someone for longer than 10 years, they can receive Social Security benefits based on their former spouse's earnings record.
There are literally hundreds of options / combinations when choosing to receive your Social Security benefits. We can help you analyze the options that would be best for you so that you can maximize the amount of benefits you receive over your expected lifetime. Please contact us if we can be of any assistance in this area.