The below article is an excerpt from my new book Social Security for the Suddenly Single. This focused book is all about divorcee Social Security retirement and survivor benefits, and it’s available on Amazon. The book was written to address the lack of information about divorcee Social Security. You’ll find everything you need to know about divorcee Social Security retirement and survivor benefits within.Divorcee Benefits Matrix
Below you will find a matrix that describes the various divorcee Social Security benefits you may have available to you.
To use this matrix, start at 1, choosing your birth …Read More
As you learn about Social Security and your possible benefits, there are several unique Social Security terms that you should understand. Below is a list and brief definitions of the most important of these Social Security terms.
Average Indexed Monthly Earnings (abbreviated as AIME) – this is the average of the highest 35 years of your lifetime earnings, indexed to inflation. Each year’s earnings is indexed based on when you reach age 60, and the highest 35 years are averaged. This average is divided by 12, to result in the monthly average. The AIME is used to determine your PIA. …Read More
In 2018, there will be some slight changes to Social Security. For individuals receiving benefits, there will be a cost of living (COLA) increase of 2 percent. While 2 percent may not seem like a lot, it certainly does help. Additionally, it’s better than nothing. That is, Social Security remains one of the few retirement vehicles available with a COLA. Many defined benefit pensions (if an individual is lucky to have one) do not have COLA increases. Their payments remain fixed for the retiree’s lifetime.
Individuals still working will see the wage base subject to the OASDI tax of 6.2 …Read More
What is the most important number you possess which is with you from birth to death? Your Social Security number! Newborns receive their unique number within a few weeks of their birth, where it is used throughout their lives to be claimed as a dependent on their parent’s tax return, apply for that first job, to identify them for credit purposes and eventually to allow them to file for benefits based on their lifetime earnings. Because of the importance of this number throughout your life, it is equally important to protect and review the information tied to it throughout your …Read More