Registered Social Security Analyst RSSA | Social Security Newsletter | August 2020
August 2020 Newsletter
Happy 85th Birthday,
August 14, 2020 marks the 85th birthday of Social Security. The Social Security Act was signed into law by President Franklin D. Roosevelt on August 14, 1935.
Top News Story
Social Security Turns 85. Will You Have Enough Money When You Turn 85?
This is an important question. According to the Social Security Administration, the current life expectancy of a 65-year-old is just over 20 years. This means that the average 65-year-old will live to be about 85 years old! Life expectancy is a critical piece of information to consider when making a Social Security decision. Many people tend to underestimate their life expectancy and this is concerning…
This month’s featured question: If my partner and I, both in our late sixties, get married, will that impact our Social Security benefits?
Martha’s response: Yes, marriage will impact your benefits. Once you are married for at least one year, you will each be entitled to collect Social Security spousal benefits. A spousal benefit can be as much as half of the…
If you are fortunate enough to make your own retirement decision, there are several factors to consider when deciding to leave the workforce. Of all the factors to consider, there is one that may give you enough of a reason to delay retirement until at least age 65. Medicare…
Why You Should Create a ‘My Social Security’ Account Today
The Social Security Administration has a free online tool called ‘My Social Security’. With this online tool you can create a free personalized account, providing you with access to vital information and enabling you to benefit from its unique features…
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