Retiring with a Disabled Dependent
Retirement planning is enough of a dredge without having a dependent that you will have to support aside from yourself. Having a disabled child that is not or cannot be financially independent changes how you look at retirement plans. In this situation it is very important to be well versed in the Social Security Disability Benefits area and how it is affected by your personal earnings and situation. One more thing to consider is that your cost of living may not decrease in retirement if you have a disabled dependent, where as an individual would see a 20% decrease on average in living expenses. These and other problems are gone over by Robert Berger in his article with the U.S. News on their web site.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.