Sentences with phrase «replace social security benefits»

You could purchase a permanent life policy that would provide for basic life insurance needs to last your lifetime to ensure your wife would have money in her retirement years to replace social security benefits, cover estate taxes, funeral costs, and any other final expenses.

This would ensure your wife would have money in her retirement years to replace social security benefits, cover estate taxes, funeral costs, and any other final expenses.

Not exact matches

You could keep working, which offers the quadruple advantages of continued income and additional opportunities to add to and grow retirement savings, while letting your Social Security benefit increase and potentially replacing a zero - or low - income year in your record.

According to the Social Security Administration, benefits are only intended to replace about 40 percent of your income.

Based on Social Security Administration estimates, participants with career average earnings of roughly less than $ 21,000 are expected to receive benefits that will replace 59 % to 81 % of their pre-retirement income.

Notes to editors The draft regulations on universal credit, the new benefit that is to replace tax credits and most other working age benefits between October 2013 and 2017, are being consulted on by the Social Security Advisory Committee (http://ssac.independent.gov.uk/consult.shtml).

Mayor Bloomberg is proposing to replace JTPs with WEP workers, which would force people on public assistance to work for their benefits without a pay check, without paying into social security, no union membership, and no qualifying for earned income tax credit.

Past consulting assignments have included developing a cost estimate for transponders and transmitters used to reduce «friendly fire» incidents for the U.S. Marine Corps; conducting a cost - benefit analysis for the Social Security Administration to replace analog recorders with digital equipment in their benefits hearings; and conducting a business case analysis for NASA Headquarters of integrating asset management procedures.

States can and should improve their own retirement benefit offerings to teachers, but this still won't replace Social Security.

Because his term policy is still inforce, his wife, who is his beneficiary, receives $ 250,000 which not only helps replace his lost Social Security benefits, but also covers funeral expenses, medical bills, the remainder of their mortgage loan, and allows her to contribute money to their grandchildren's trust for college tuition.

Social Security benefits replace 40 % of an average worker's income after retiring.

A worker with much higher earnings will receive a larger social security benefit, but it may replace only about 25 % of covered wages.

The practical impact of this formula is that a worker with lower wages might expect to receive a social security benefit that replaces about 45 % of those wages on an inflation - adjusted basis, assuming the worker retires at full retirement age.

He also suggested replacing the wage inflation adjustment with the more slowly - growing price inflation adjustment, and imposing a form of means testing so that people with other sources of income in retirement would see their Social Security retirement benefits reduced.

If your earnings are significantly above that level, your social security benefit will replace a much smaller percentage of your wages.

We can start with the percentage of income Social Security replaces for people at the top of the wage base — the $ 118,000 cap on income that is included in the benefits calculation.

Workers who have always earned at the top of the wage base cap can expect Social Security benefits to replace about 25 percent of their pre-retirement income.

Green: They support the return of old - age benefits to 65 - year - old Canadians, but the party's broader plan replaces various social - security benefits with a Guaranteed Liveable Income.

Since Social Security replaces a higher percentage of a low - wage worker's pre-retirement income than that of a high - wage earner, some workers were receiving greater benefits than intended.

For those with average income, Social Security Retirement Benefits generally replace about 40 % of those earnings.

Social security retirement benefits replace about 40 % of the average earner's salary (not living expenses).

If you anticipate receiving Social Security benefits, you can estimate replacing 70 % of your pre-retirement income.

This calculates how much income needs to be replaced given the fact that Social Security will pay benefits when there is more than one child under age 16, or under age 18 and still in High School.

A few factors can be pinpointed: (1) the amount of their current income Social Security will replace (39 percent do not know with a high degree of confidence); (2) when to start to take the benefit (22 percent of pre-retirees don't know); and (3) whether it will provide expected income in retirement (37 percent are not confident that it will).

By working part time, you'll replace a year of zero earnings with a year that has at least some earnings, and your social security retirement benefit will increase.

As you can see from the examples above, you get an increase in your social security retirement benefit only if your additional year of earnings replaces a year when the earnings were smaller.

Consider that Social Security retirement benefits are only designed to replace about 40 % of the average worker's income, so it's fair to expect that the same can be said of survivor benefits.

If you have average earnings, your Social Security retirement benefits will replace only about 40 percent.

If you have average earnings, your Social Security retirement benefits will replace only about 40 % of your pre-retirement earnings, so you'll need to supplement your benefits with a pension, savings or investments.

Today, given that fewer and fewer people are receiving defined benefit pension plans from their employers, and that Social Security is only replacing about 40 percent of the average wage earners income, it is good to know that there are options for those who are over age 60 to supplement their income when their employer's paycheck stops.

The life insurance policy death benefit would help replace those lost Social Security benefits.

In fact, Social Security replaces nearly 40 percent of an average wage earner's income after retiring.4 But at what age should you apply for your benefits?

If you're serious about buying long - term disability insurance that will replace your income for life, you can purchase a policy that lasts until you're old enough to qualify for Social Security benefits.

LTDI also provides superior peace of mind: you shouldn't really rely on the whims of a bureaucrat at the Social Security Administration who has to decide whether you're disabled enough for Social Security disability benefits, and because the appeals process takes so long you could be suffering without an income that would otherwise be replaced with LTDI.

Social Security benefits replace 40 % of an average worker's income after retiring.

Because his term policy is still inforce, his wife, who is his beneficiary, receives $ 250,000 which not only helps replace his lost Social Security benefits, but also covers funeral expenses, medical bills, the remainder of their mortgage loan, and allows her to contribute money to their grandchildren's trust for college tuition.