WOMEN AND SOCIAL SECURITY
Your Benefits Might Not Be Enough
THE MARRIAGE QUESTION If you are or have ever been married, you may have some options open to
Social Security came into existence in a very different world than we face today. When the guidelines for retirement benefits were laid out in the 1930s, women had only received the right to vote a decade prior and were still vastly underrepresented in the workforce. Naturally, this leads to certain biases and inequities working their way into the system — some of which still plague retirement-age women to this day. EQUAL BUT NOT EQUITABLE On the surface, Social Security is a very gender-neutral program. You pay into the system, and you get benefits, right? On paper, this is the case — individuals with equal earnings will get the same benefits, regardless of their gender. But in reality, the same Social Security dollars won’t go as far for you if you’re a woman. Several factors contribute to this. MORE WITH LESS As a woman saving for retirement, you’re in a double bind. Because of the wage gap that still exists in many industries, odds are you’re already making less than male counterparts in your exact situation. On top of this, you’re statistically likely to live longer than the average man, meaning you have to stretch fewer benefits over a longer period of time. Hence, your own Social Security benefits may not be enough.
you. Spouses can opt to claim half their partner’s Social Security benefits instead of their own, for example. In some cases, divorcees can also claim benefits from their ex, provided that they meet certain requirements. If you have been widowed, you’ll be eligible for survivor’s benefits at age 60 or older. Marriage isn’t the only path to a stable retirement, but it’s important to know these options are available. Finding other avenues to build wealth largely depends on your age and financial situation. Working with an expert advisor can help you clear the hurdles standing between you and retirement.
THIRD THURSDAY
SEPTEMBER 19 I’ve been injured in an automobile accident. Now what should I do, so I don’t screw up my claim?
Having handily defeated Vivian and the boys in the hearing over the living wills, Chelsea begins to deal with the paperwork necessary to change the old insurance policies to better reflect her husband’s wishes, but encounters some red tape when the insurance company again questions her motivations. Meanwhile, Arturo begins to stabilize but remains in a coma, and as the policies’ expiration dates approach, it appears the change may not be necessary, as his survival past that point will render the policies moot. For a while, Greg DuPont begins to cautiously believe that the mystery will fade into the past, and his life will go back to normal – until his phone rings again with news of a mysterious death that Chelsea believes is connected to her husband’s accident. Check out the entire Chapter, catch up on prior chapters, enter the monthly $25.00 drawing and perhaps learn a few things at www.DandBlaw.com or http://bit.ly/PilotMysteryCh4. The deadline for entry is September 30.
OCTOBER 17 How to escape the 401(k) trap.
NOVEMBER 21 The end is near! Actions you should think about taking before the end of the year.
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MARCH TO 1 MILLION UPDATE
Current count for the March to 1 Million: 112,672
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