Social Security is a major source of income for most people 65 and over. It was originally established to provide the base of financial protection for working people and their families when earnings are lost due to retirement.
Social Security can be more than just retirement income. The system provides many different benefits to workers and their families. Social Security provides income to disabled workers and families and in some cases, income to surviving spouses and children of workers who have died.
For those who qualify for benefits, Social Security is a retirement income source with choices and therefore some degree of control. Managing your Social Security benefit should be part of your entire retirement income process. Social Security is often for the foundation or point of the retirement income analysis.
But not everyone understands how Social Security benefits work- or how to help maximize the value of these benefits. And when you add a spouse to the picture, your planning can become quite complex.
For more information on maximizing your Social Security Benefits;