Why Social Security Matters More for Women
Social Security is often the foundation of financial security in retirement, especially for women.
The unique challenges that women face, such as fewer years in the workforce and longer life spans, mean benefits matter even more. The amount of your monthly payment depends on your 35 highest-earning years, so gaps in employment can reduce what you receive.
You can claim benefits as early as age 62, but every year you wait increases your monthly benefits, maxing out at age 70.
Marriage, widowhood and divorce also affect your options. For example, a spouse may qualify for up to half of a partner’s benefit, and survivor benefits can provide up to 100% of a late spouse’s amount. There are many more rules surrounding timing and the amount of benefits – many of which you can control.
Social Security rules are complex, but the decisions you make today can shape decades of retirement. Talk with a financial advisor to make the most of your benefit.
This content was provided by Edward Jones for use by Alan Bell, your Edward Jones financial advisor at 222 Great Road Suite 8 Littleton, MA 01460. 978-486-1059.
Member SIPC
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation
The unique challenges that women face, such as fewer years in the workforce and longer life spans, mean benefits matter even more. The amount of your monthly payment depends on your 35 highest-earning years, so gaps in employment can reduce what you receive.
You can claim benefits as early as age 62, but every year you wait increases your monthly benefits, maxing out at age 70.
Marriage, widowhood and divorce also affect your options. For example, a spouse may qualify for up to half of a partner’s benefit, and survivor benefits can provide up to 100% of a late spouse’s amount. There are many more rules surrounding timing and the amount of benefits – many of which you can control.
Social Security rules are complex, but the decisions you make today can shape decades of retirement. Talk with a financial advisor to make the most of your benefit.
This content was provided by Edward Jones for use by Alan Bell, your Edward Jones financial advisor at 222 Great Road Suite 8 Littleton, MA 01460. 978-486-1059.
Member SIPC
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation