Taking Care of Business
Can a husband's choices for claiming social security benefits impact the amount a wife can claim later? Apparently it can, according to an interesting article published yesterday on the Forbes.com business channel titled, "Husbands Are Shrinking Wives' Social Security."
The issue seems to be that some men are claiming benefits without really having identified a plan or a strategy for when or how to claim those benefits. Ultimately, this works to their disadvantage in many instances, potentially reducing the wife's future benefits. This article highlights several challenges facing retirees claiming social security which give credence to the idea that having a well-thought-out strategy before claiming benefits is a really good idea.
The Naperville Public Library will be hosting a program on this very subject on Tuesday, August 13 at The Nichols Library in downtown Naperville at 6:30 p.m. The program is titled, "Strategies for Claiming Social Security Benefits" and will be presented by Karen Chan, an educator specializing in financial literacy subjects. This program is part of the Healthy, Wealthy & Wise community-wide initiative sponsored by the library in 2013.
If you would like to read up on the subject, there are also a number of very fine resources in the library's collection that may be of interest. Try one or two of these: