How Does Social Security Calculate Longevity? The Social Security website calculates benefits based on the lifespan of the average retiree. However, not everyone will have an average life expectancy, so various claiming strategies must be considered. Retirees who foresee an above-average life expectan...
Your age when you start taking Social Security has a big impact on how much you receive in benefits each month. That’s because the Social Security Administration (SSA) pays a different amount depending on whether you start at age 62; at age 67 (that’s the full retirement age, or “FR...
Spousal Benefits:A spouse of a retired worker without a sufficient work history or whose work history entitles them to a lower benefit can receive up to half of their spouse’s benefits and does not reduce the insured's benefits.8Thespousal benefitcontinues until one spouse dies. The survivor ...
"One of the first questions would be, 'What does retirement look like for you?'" Koski said. "For some people, that might mean all they want to do is play with their grandkids and travel." Frequent traveling means having to save a lot more money or risk outliving your savings. Once...
if your spouse is 15 years younger than you, your joint life expectancy will likely be longer. Here is ajoint life expectancy calculator by the SSA. Despite making actuarial calculations, there's still no guarantee about the best time to take Social Security for each spouse. Everything is ju...