Did you know that traditional retirement age is 65? Did you also know that at age 65 you become eligible for Medicare?
Turning 65 is no guarantee that you will be ready to retire. In fact, a rapidly growing number of older Americans are continuing to work past age 65. According to the U.S. Jobs report released in April 2018, 32% of Americans age 65 to 69 were employed last quarter. Even past age 70, a growing number of seniors are either declining or unable to retire. With the numbers increasing every year, this looks to be a continuing trend.
Married couples have more options when it comes to maximizing Social Security income payments and overall benefits than single people do. Those who are divorced may even have the option of collecting spousal benefits. However if you are single and have never been married it is important that you learn your social security filing options.
The good news is that social security payments are safe from the vast majority of creditors. According to MarketWatch, people who get behind on a credit card or car loan don’t have to worry about having social security income garnished. Creditors are not even allowed to take it out of a bank account for two months after receiving it, and this should give those people who rely upon that income to buy food and pay the light bill ample time to spend it
You may remember having to answer a lot of health questions in order to apply for life insurance in the past. However, having some health conditions to report does not always mean you will get declined for life insurance. The fact that you smoke, could stand to lose a few pounds or even take prescription medication because of a chronic medical condition should not keep you from shopping for a good life insurance policy to help protect your family and preserve your peace of mind. These days, some policies require the answers to very few health questions, and some guaranteed acceptance policies do not require you to answer any health questions at all.