What Happens to Your Social Security Benefit When Your Spouse Dies?
Social Security benefits are generally the largest source of income for people aged 65 and older, according to the Social Security Administration. Therefore, the extent to which seniors understand the Social Security program can have a big impact on their living standards in retirement.
Nationwide Retirement Institute recently reported that 44% of surveyed adults were unaware that, upon the death of a spouse, the bigger benefit would be inherited by the surviving spouse. Misunderstandings of that nature can lead to lost income.
Read on to learn about retirement benefits and survivors benefits.
Source Fool.com
