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From: International Living <webeditor@internationalliving.com>
Date: Fri, Oct 28, 2016 at 1:11 PM
Subject: How Understanding Social Security Benefits Can Earn You Thousands
To: JOAOA.DESILVA2016@gmail.com
| You are receiving this e-mail because you subscribed to International Living Postcards.  International Living Postcards—your daily escape Dear International Living Reader, Misunderstanding your Social Security claiming options can be costly. In fact, it can easily add up to hundreds of thousands of dollars in lifetime benefits lost. And this happens a lot, as most people aren't aware of the rules and how they work. Steve Garfink, after years of study and analysis, started a consulting firm that helps folks just like you effectively maximize their Social Security benefits. Below, he explains one of the most misunderstood benefits of the entire Social Security system...and shows how doing some research and knowing your options could net you thousands of extra dollars each month. I'll let him tell you more...
Nazareen Heazle P.S. You owe it to yourself to learn how the Social Security program can work best for you in your retirement. Today is your last opportunity to pick up a copy of Steve's book about the best ways to claim all the benefits you're entitled to. Don't leave money behind...get informed. All the details for getting your hands on this book...free...are here. * * * How Understanding Social Security Benefits Can Earn You Thousands One of the least understood benefits of the Social Security system is the survivor benefit. To understand just how costly this can be, let's look at an example. Consider two women, Lauren and Beth. They have much in common: Both are age 60 and both are eligible to receive the exact same amount in Social Security benefits based on their work records at age 66 (their Full Retirement Age): $2,000. They have one more thing in common: Both were married and divorced from the same man. Lauren was married to Rick for 12 years before they divorced. Then Beth came into Rick's life and married him 15 years ago. That marriage also ended in divorce last year. Neither Lauren nor Beth remarried. Rick would qualify for $1,800 in Social Security benefits at his Full Retirement Age, 66. Sadly, Rick passed away after a car accident earlier this year; he was 64 years old and had not started to collect his benefits yet. Lauren never bothered to learn much about her Social Security claiming options. She did what most people do, she started her benefits at age 62. When she went to sign up she was asked if she had been married before. She provided the facts to establish her marriage and divorce from Rick. She was told—to her surprise—that she was eligible for the higher of her own work-based benefit or a survivor benefit based on Rick's work record. It turned out that her work-based benefit was slightly higher, so she took that one and started collecting $1,500 per month. Beth invested time into getting educated about her benefit options. She will collect about 18+ years the money that was put in, her money, she thought was a good idea to start collecting when she did. When she heard that Rick had passed away, she knew she was eligible for a survivor benefit based on his work record. Moreover, she understood how best to get the most out of both her survivor rights and her own work-based benefit. This knowledge paid off handsomely for her. Remember, they were each eligible for exactly the same options to start with when Rick passed away. Do their different claiming strategies make a big difference if they live to their average life expectancy of about 86? As it turns out, it isn't even close... Beth will collect over $229,000 more than Lauren by age 86. She'll receive $2,640 a month compared to Lauren's $1,500 a month. That extra $1,140 each month adds up to $13,680 in extra benefits each and every year for Beth. While it isn't always simple to determine your best Social Security claiming strategy, it can make a huge difference in your financial security as you grow older. As you've seen from Beth and Lauren's situation, it's worth investing time and energy into getting educated about the complicated yet valuable Social Security program. Many of these benefits are not automatic and no one is likely to reach out to you from the Social Security Administration to make sure you are aware. All too often you are on your own. Editor's note: You don't have to be on your own when it comes to figuring out the best Social Security claiming strategy for your situation. Steve, who has more than 40 years of work experience in finance, strategic planning, and management, has put everything he knows about Social Security into one invaluable book (and we want to give you a copy free). In it, he reveals a way for you to claim an extra $59,377 in benefits...but the loophole for claiming will close soon. So get your hands on a copy of Steve's book...absolutely free...here. Today is your last chance to get a copy.
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