If you want to travel and enjoy your leisure time to the utmost you are probably going to have to plan ahead carefully so that you have resources to draw from beyond your Social Security benefit. If you get started early enough and stick to an intelligently conceived plan for an extended period of time you should be able to enjoy your golden years in comfort.
It is however important to gain an understanding of what to expect from Social Security when you are making preparations for your senior years. While this entitlement program will provide you with some income if you pay into it sufficiently, you must recognize the fact that it is not a cure-all.
Many people have questions about Social Security spousal benefits. If you are married both you and your spouse will receive the Social Security benefit that you have each respectively earned throughout your working years.
However, there is a caveat. Let’s say that your earned benefit was less than half as much as your spouse’s benefit. In this case your benefit would be increased to equal half of what your spouse was receiving.
It should also be noted that if your spouse’s benefit is greater than yours and he or she was to pass away you would receive 100% of his or her benefit but you would no longer receive your own.
The best way to gain a thorough understanding of Social Security as you are creating a comprehensive plan for your retirement years is to discuss everything with a professional. Should you be interested in doing so, simply pick up the phone right now to arrange for a consultation with a licensed, experienced South Carolina retirement planning lawyer.