Like many Americans heading into their retirement years, you may be planning to rely on your Social Security retirement benefits to finance your “Golden Years.” If so, you undoubtedly want to get the most out of those benefits. Maximizing your Social Security retirement benefits requires you to think ahead and plan strategically. With that in mind, the Long Island attorneys at Eghrari Law Firm offer seven tips to help ensure you receive the maximum benefits from Social Security when you …
Social Security Benefits Based on Your Spouse’s Work History
Many retirees depend on the financial benefits they receive each month from the Social Security retirement system. What happens, however, if you were a stay-at-home parent for your entire life? Are you entitled to Social Security retirement benefits? The Long Island attorneys at Eghrari Law Firm explain when you are entitled to Social Security benefits based on your spouse’s work history. Work Credits in the Social Security System During your working years, you accumulate credits that are …
Top Three Retirement Planning Misconceptions
Retirement is something that is not going to be gift wrapped and handed to you when you reach a certain birthday. Unfortunately, there are those who buy into certain misconceptions. They believe that retirement is lying in wait, and they don't take any steps to proactively make financial preparations. We would like to take a look at three of these misconceptions here. 1.) Health care is a given because I'm going to qualify for Medicare coverage. Medicare is not entirely comprehensive; it is …
Social Security: How, When & How Much?
When you speak with a retirement planning attorney about your future he or she is going to explain the limitations of Social Security. Thinking that you will be able to get by on Social Security alone is a mistake, and this is why advance planning with the benefit of expert guidance is so important. Why is it a mistake? The answer is because Social Security benefits are quite limited. The average monthly benefit in 2012 was less than $1250, and even the maximum of $2513 is not exactly a …
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