Eventually, most individuals working today will leave their job and settle into a new life as a retiree. Whether retirement is a time to look forward to, or a time to be feared, depends largely on how well you plan and prepare during your working years. This section has useful information on the different ways to prepare for retirement, including information on social security, as well as private retirement saving funds.
Social Security is a safety net for elderly and disabled people who are no longer able to work. The program is funded through mandatory taxes everyone pays during their working years. When you reach retirement age, which is between 62 and 67 (depending on when you were born and how long you worked), you can apply for benefits. How much you receive in benefits largely depends on how much money you were able to pay in social security taxes during your working life.
Social Security benefits are also available to citizens who can show that they are afflicted with a long- term illness which prevents them from working. People who apply for social security disability typically need to show medical records and or a letter from a doctor in order to prove they can no longer work.
Even though most people can count on a Social Security check, the reality is that social security doesn't always provide enough income to live comfortably in retirement. Fortunately, there are a number of other ways to save money:
This section has more in-depth information about the different types of retirement plans, as well as tips on how to create a budget and savings goals so you can live comfortably both in retirement and in the present.
Social Security Attorneys
The social security process is one that often can be handled without an attorney's involvement. Social security attorneys primarily handle social security claims that have been denied, or where a dispute has arisen over benefits. During the appeal process, they will evaluate a claimant's medical condition and challenge the basis for the initial administrative decision. Because social security is an administrative process quite unlike a courtroom, it can be very helpful to have an attorney who specializes in the procedures and laws involved.
As far as retirement planning is concerned, attorneys specializing in estate planning and/or tax laws may be very helpful in finding the right investment and estate planning vehicles to create and preserve assets for one's golden years.
Contact a qualified social security lawyer to assist in your social security disability or retirement benefits issue.