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What Divorced Retirees Should Know About Social Security
(Source – www.themarketsurge.com)
Your marriage may be over, but there’s still a chance Social Security will pay you for the years you put in. What workers and retirees don’t know about their Social Security benefits is staggering. According to a survey from financial firm Franklin Templeton, roughly 39% of Americans have no idea how much of their income Social Security will replace, with 37% unsure Social Security will provide the income they’re expecting. A full 22% don’t know when they should take their Social Security benefit, which is why 59% do so before full retirement age. Of that group, only 21% took the benefit because they needed it. A whopping 42% did so simply because they were eligible, which cut into the benefits they received. Read more…