If you simply filed for Social Security benefits based on your own work record, you may be short-changing yourself. If you still have a living spouse, you may be entitled to a spousal benefit equal to as much as 50% of his or her payout. If your spouse has died, you may be entitled to survivor’s benefits that may be even higher. Even if you are divorced, if you were married for at least 10 years you may still receive the same benefits. Check with the Social Security Administration to ensure that you are earning as much as you can in terms of your legally available Social Security benefits. Check for State benefits. Many qualify for Federal and State benefits and do not even know it or know how to go about it. Ask your agent broker to assist you.
If you don’t mind moving, consider Moving Overseas
If relocating in the United States isn’t your cup of tea, Consider Moving Overseas. Yes, it will cost more to relocate, but the change could be a dramatic improvement, both in your lifestyle and in terms of how far you can stretch your Social Security check. Numerous American ex-pats receive their Social Security checks in exotic locations like Portugal, Thailand, or the Philippines, where the cost of living can be less than half that in the United States. Places like these also afford an exciting lifestyle of beaches, good food, beautiful views, and historic landmarks.
Trim Your Budget
No one likes to trim their household budget, especially in retirement, but if you really need your dollars to stretch further, it’s a time-tested method. Even in retirement, you likely have monthly expenses that aren’t 100% necessary, and dropping them from your budget can help stretch your Social Security dollars. For example, now that you’re retired, you may no longer need monthly subscriptions to work publications. You could also consider dropping cable in favor of cheaper streaming services, some of which offer free TV channels that rival the lineups of cable companies anyway. Check every line item of your budget and see if you can drop what isn’t actually necessary if you want to free up some extra cash from your Social Security checks.
You can also meet with your financial planner to help you make financial goals for retirement.
Ask your agent broker for assistance.
Mary Patricia Carmona-Gomez / Trusted By Seniors Medicare /832-725-6788
