Retirement Pensions and Social Security

Your Retirement Planning Guide

Your Retirement Planning Guide

Don't Blame Us If You End Up Enjoying Your Retired Life Like None Of Your Other Retired Friends. Already Freaked-Out About Your Retirement? Not Having Any Idea As To How You Should Be Planning For It? Started To Doubt If Your Later Years Would Really Be As Golden As They Promised? Fret Not Right Guidance Is Just Around The Corner.

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Social Security Retirement

The Social Security operations manual contains over 2700 different rules. However, Jim Blair has broken this down into an easy to follow formula that will take just minutes. This guide will talk you through things in a way that is clear and easily understandable, and breaks down all your options whether you are married, divorced, single, or widowed; everyone is covered here. All you need to do is look through the guide to find the section which applies to you, and follow the steps to determine how much you are entitled to, and what kind of option will get you the best deal. You will be shown how to proceed through the entire process, from deciding when to make your application to receiving your first payment. There's no more waiting in line for hours only to find you haven't been given a straight answer- this process is quick and can be done from the comfort of your own home, at your leisure.

Social Security Retirement Guide Summary


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Author: Jim Blair
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Highly Recommended

The author presents a well detailed summery of the major headings. As a professional in this field, I must say that the points shared in this manual are precise.

As a whole, this e-book contains everything you need to know about this subject. I would recommend it as a guide for beginners as well as experts and everyone in between.

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Public Pension Programs

The major federal pension programs benefiting older Americans, their dependents, and survivors are Civil Service Retirement, the Railroad Retirement Program, the Veterans Pension Program, Old-Age and Survivors Insurance Program, and the Supplemental Security Income Program. Other public pension programs are managed by state and local governments. The Civil Service Retirement program, managed by the U.S. Civil Service Commission, is the principal retirement system for federal civilian employees and is financed by employee contributions matched by the employing agency plus congressional appropriations. Under this program, monthly retirement benefits based on past earnings and length of service are paid to eligible retirees and their survivors. The Railroad Retirement Program, managed by the Railroad Retirement Board, is financed by a payroll tax on railroad employees and employers. Monthly benefits are paid to retired workers, their wives, and survivors. Only employees with 10 or more...

Private Pension Programs

Sources of income for older couples and individuals in 1994 included Social Security (42 ), followed by other public and private pensions (19 ), earnings (18 ), asset income (18 ), and other sources (3 ) (American Association of Retired Persons, 1996b). As indicated by these percentages, private pensions are not the major source of income for older Americans, but they are a substantial one In 1995, 8.8 million Americans received an average of 8,378 under the provisions of company or union pensions. Annuity, IRA, Keogh, 401(k), and other private pension plans also made payments to nearly 1 million Americans (U.S. Bureau of the Census, September 1996). Business and professional organizations in most industrialized countries provide private retirement programs for their employees. Under these programs, retirees are either given monthly payments or, in countries such as Australia and Japan, a single lump sum. In the United States, private pension plans can be divided into two types...

Adjusting to Retirement

For most older adults, retirement is an active, rewarding period of their lives. They now have time to pursue interests and complete tasks that they had to postpone or devote less time to during their working years. Not only do most people adjust well to retirement, but also their health and happiness may actually improve when they are no longer required to conform to the daily grind (Betancourt, 1991 Herzog & House, 1991 Quinn & Burkhauser, 1990). For these reasons, retirees are, on the whole, satisfied individuals who retain a sense of usefulness and pride in themselves and their accomplishments. Retirement is, of course, not a pleasant experience for everyone. Retirees with financial and health problems, whose identity was tied up with their jobs, who were forced to retire, and who have made few, if any, plans about what to do with the rest of their lives have difficulty adjusting. For these individuals, retirement is accompanied by feelings of diminished usefulness,...


Ethnic-minority elderly face serious financial problems. Since most have worked at relatively low-paying jobs or are forced to exit the work force before retirement age for health reasons, they are likely to receive minimum or near-minimum benefits when they retire. This results in high rates of poverty and near poverty. Many elderly minorities have incomes so low that they cannot survive without assistance from families and friends. Latino elderly have typically worked hard throughout their lives. Many suffer physical disabilities due to a lifetime of manual labor, often since childhood. Nevertheless, most Latino elderly are not financially secure at the time of their retirement. While most elderly in the United States receive Social Security, Latinos are less likely than whites to receive this type of benefit. Despite great need, Latino elderly are less likely to receive Social Security than the rest of the eligible population. Nearly 1 in 4 (23 ) Latino elderly receive no Social...

Retirement Planning

The changes in status occasioned by retirement would seem to require some degree of planning and preparation. In most cases, however, any planning is done in a fairly informal manner and does not anticipate all of the problems that may accompany the event and process of retirement. Ideally, planning for retirement should begin 5 to 10 years prior to the actual event, but this is not what usually happens. Furthermore, although a majority of retirees report having made some plans, most are inadequate. For example, among the 572 adults age 30 or over questioned in a national Gallup Poll in 1995, only 31 stated that they had written down a financial plan for their retirement. A majority of the sample said that they were not earning enough money now to save for retirement, and those who had children felt that their children's education had a higher priority than saving for retirement. Only 26 of the sample was designated by the pollsters as happily prepared for retirement 185 were...

Is Aging Research Anti Aging

First, significant increases in lifespan could create significant societal problems (Capron, 2004). A longer lifespan could result in a larger aging population and a longer period of decline for humans. Significant gains in age retardation could upset delicate social institutions related to health care, employment, retirement, marriage, etc. In so doing they could be destructive of the common good and create issues of distributive justice and inter-generational equity.

Habit Discontinuities

Opportunities to break existing habits and build new ones may come together when people undergo naturally occurring changes that may, at least temporarily, disrupt existing routines (Verplanken and Wood, 2006). Such discontinuities may occur, for instance, because of moving house, starting a family, changing jobs, or retirement. Discontinuities may also arise from external changes, such as a period of economic downturn or new laws and regulations such as the smoking ban or congestion tax. In terms of our habit model, such discontinuities imply that habitual cue-response links are broken and the individual has to re-negotiate new solutions. During such windows of opportunity, individuals may be more open to information that assists or persuades them to find new solutions. Although this may seem an obvious suggestion, there has been little systematic empirical work to test this habit discontinuity hypothesis (Verplanken and Wood, 2006 Verplanken et al, 2008). Some studies provided...

The Institute And People Involved

Anne Field (Fig. 4.4) studied Microbiology at Bristol University and came to CPHL in 1959. She originally worked in the enterovirus laboratory, but in 1968 was appointed the first electron microscopist at CPHL and was responsible for setting up and running the electron microscope unit (EMU) until retirement in 1994. The first electron microscope in use at CPHL was an AEI 6B.

Development and Change

The most general form of change that may be expected from criminals is one that may be seen as having an analogy to a legitimate career. This would imply stages such as apprenticeship, middle management, leadership and retirement. Unfortunately the criminology literature often uses the term criminal career simply to mean the sequence of crimes a person has committed. It is also sometimes confused with the idea of a 'career criminal', someone who makes a living entirely out of crime. As a consequence much less is understood about the utility of the career analogy for criminals than might be expected. There are some indications that the more serious crimes are committed by people who have a history of less serious crimes and that, as a consequence, the more serious a crime the older an offender is likely to be. But commonly held assumptions, such that serious sexual offences are presaged by less serious ones, does not have a lot of empirical evidence in its support.

Social Function in Old

Aging is generally associated with dramatic changes in social roles and personal relationships. Around the age of 65 most individuals retire. Irrespective of whether retirement is encountered as a welcome or an unpleasant life event, it involves two developmental challenges adjustment to the loss of the work role and the social ties of work and the development of a satisfactory post-retirement lifestyle (van Solinge and Henkens, 2008). Besides possible adjustment problems this may bring about, the change from a working to a retired life evidently can be associated with large behavioral changes that influence social and physical activities, food intake, and alcohol consumption.

Lifestyle Behaviors in Old

Aging has generally rather profound effects on lifestyle behaviors as well, either due to changes in daytime activities (e.g., after retirement or widowhood) or as a result of the considerable increase in disabilities and chronic diseases associated with aging. Specifically, the degree of physical activity may decrease due to physical decline, acquired chronic conditions, and accompanying pain. But other lifestyle behaviors might also be affected. Smoking is an important accelerator of the aging process. In general, the percentage of persons smoking decreases with increasing age, but this may in large part be due to the selective survival of non-smokers, or due to the fact that certain older persons stop smoking because of health reasons. It is important to note, however, that those persons who smoke most probably have been smoking a large part of their lives. This accumulating effect of lifetime smoking might therefore be specifically detrimental in older persons. As with smoking,...

Longterm Effects Of Cancer Diagnosis And Treatment On Survivors Family Members

In our review focusing on family survivorship included families from 1 to 5 years posttreatment,80 thus making specific statements about the long-term effects of cancer diagnosis and treatment on family members difficult. The study finds that economic resources, marital status, and retirement status for cancer survivors ages 50-70 were related to higher levels of QOL.80 Contrary to expectations, physical and somatic concerns were unrelated to overall QOL. Social support was positively related to overall QOL while fear of recurrence was negatively related to QOL. The family's meaning of the illness was also related to family QOL.

Location And Relocation

Realizing that a house is not necessarily a home, I now use the latter term to refer to the place where I live. Because I am no longer gainfully employed, I suppose that one might refer to it as my retirement home. It's probably better than a nursing home, but I'll have to wait and see before making a final judgment.

Long TermCare Facilities

As people become very old, the incidence of both physical and mental disorders increases. This is particularly true for the 85-and-over segment of the population. About one-fourth of very old Americans require personal care and supervision in addition to room and board, but not continuing nursing care. For them, some form of group housing may meet their needs adequately, as seen in residential care homes or retirement homes.

Analytical Strategies Models And Paradigms

Furthermore, people who act ethically according to this theory would evaluate the extent to which providing care has a positive impact on their own self-interest and well-being. For example, if Martha, in the first scenario, is generally enjoyable to be around and family members respect her contributions to the family, then it may be in their self-interest to work out a living arrangement that maintains Martha in her own home. Furthermore, family members may decide to share living arrangements with an older family member because they find that the additional income provided by the older person's Social Security check or retirement income substantially enhances their household income.

Suggested Readings

USA Today Magazine, pp. 19-21. Mergenbagen, P. (1994, June). Rethinking retirement. American Demographics, pp. 28-34. Quinn, J. F., & Burkhauser, R. V. (1990). Work and retirement. In R. H. Binstock & L. K. George (Eds.), Handbook of aging and the social sciences (3rd ed., pp. 307-327), San Diego Academic Press.

Shrinking Of The World

Older individuals tend to use less and less of what can be termed the total environment. This gradual restriction often begins when the person leaves the world of work at retirement. A second point at which there is a reduced level of participation in the outside world occurs when the individual experiences the onset of a chronic illness. Further restrictions are put into play as the individual ages and sensory deficits, such as vision or hearing losses, become more intensified. Such physical alterations can at times be sufficiently severe to constitute a need to alter individual lifestyle. A frequent change is to limit outside activities, with a concomitant increased usage of the home environment.

Specific Categories and Items

The percentage of total income that is spent for particular categories of items also varies with chronological age and other demographic characteristics of purchasers. Note in Figure 11-3 that, in 1995, individuals in the 25- to 44-year-old age group and the 65 and over year group spent a greater percentage of their incomes on housing and food than those in the 45- to 64-year-old age group. Older adults also spent a higher percentage of their income on health care, utilities, and cash contributions than young and middle-aged adults. On the other hand, young and middle-aged adults spent higher percentages of their incomes than older adults on transportation, clothing, insurance, and pensions (US. Department of Labor, 1996). Housing, Exc. Util Transportation Food Health Care Utilities Cash Contributions Clothing Insurance, Pensions Entertainment Other Expenditures Housing, Exc. Util Transportation Food Health Care Utilities Cash Contributions Clothing Insurance, Pensions Entertainment...

Older Adult Consumers

In general, older Americans consume fewer goods and services than their younger contemporaries, but they spend a greater portion of their after-tax incomes on items that cost of living adjustments fail to weight properly (e.g., food, health care, utilities . The lower average expenditures of older adults are a reflection of the fact that their households have fewer members and the members have less expensive needs. In addition, more job-related items such as transportation, clothing, life insurance, pensions, and entertainment are less expensive for older than for young and middle-aged adults. Income taxes

Emr To Improve Pain Relief

Overall, EMR offers the opportunity for better care for patients in pain, and it can come with a smaller price tag than clinical care without it. Physicians are starting to use the Internet to educate patient populations and health care professionals. The technology exists for modifying the most rudimentary elements of patient care to the benefit of the masses. Unless a person believes that the future of medicine will involve less documentation, less redundancy, less bureaucracy, and less government intervention or unless retirement is in the near future, EMR is a necessary investment and the sooner the better.

On The Intertwined Role Of The Social And Physical Environment As People Age An Integrative Perspective

A telling example to illustrate these expected personenvironment dynamics as people age is provided by relocation research, because relocation probably is the most radical process, in which the physical and frequently major elements of the social environment are changed at the same time. Having lived in a specific place implies an enormous amount of implicit knowledge related to everyday routines, to geographical distances inside and outside the home, to distinguishing neighbors from strangers, to seasonal changes of the sunlight, and to community services. Seeking to enhance one's sense of belongingness refers to the meaning and memories that individuals associate with their immediate home environment and that creates a sense of place identity. Not surprisingly, therefore, relocation in later adulthood may not be a question of just finding technically more easy-going, age-adequate, comfortable and supportive new living places, but rather it is a question of resolving the nearly...

The Start Of A Collaboration

Billie Padgett, Duard Walkerand Gabriele Zu Rhein at Dr. Walker's retirement party in 1988 (Left to right). Courtesy of Gabriele Zu Rhein. Figure3.1. Billie Padgett, Duard Walkerand Gabriele Zu Rhein at Dr. Walker's retirement party in 1988 (Left to right). Courtesy of Gabriele Zu Rhein.

Historical Development of Animal Models of Aging

The history of animal model development in the United States is inextricably tied to the history of the National Institute on Aging (NIA). The rapid rise of biological, biomedical and behavioral research on aging beginning in the 1970s was a response to the growing realization of both the scientific and political establishments that the American population was aging and that the Baby Boomers would reach retirement in less than 50 years, an eternity for politicians and a moment for scientists. Even before NIA was created, scientists interested in aging began searching for animal models for their study. From the time of Clive McKay's calorie restriction (CR) studies in the 1930s through Morris Ross's CR studies in the late 1960s and early 1970s, most aging models resulted from studies actually developed to

Case Example

A cognitive formulation of Thomas's presenting problems suggested that, at a core level, central to his sense of self, Thomas had assimilated the belief that his acceptability as a person was conditional on being respected and regarded as competent in all domains and at all times. His career as a carpenter and his retirement interests involved fine motor skills that had been essentially lost through the progression of the Parkinson's disease.

Phases of Treatment

A role transition is a change in life status defined by a life event beginning or ending a relationship or career, a geographic move, job promotion or demotion, retirement, graduation, or diagnosis of a medical illness. Even a much-wanted new role such as getting married or having a child may be accompanied by unforeseen sense of loss. The patient learns to manage the change by mourning the loss of the old role while recognizing positive and negative aspects of the new role he or she is assuming, and taking steps to gain mastery over the new role. Frequently the new role, while undesired, is discovered to have previously unseen benefits. Interpersonal deficits, the residual fourth IPT problem area, is reserved for patients who lack one of the first three problem areas that is, patients who report no recent life events. The category is poorly named, and really means that the patient is presenting without the kind of defining recent life event on which IPT usually focuses. Not...


G. (1993). Trends in health among the American population In Bartlett, D. and Rappaport, A.M. (eds.), Demography and retirement The 21st Century. Westport, CT Praeger. Elo, I. (1998). Childhood conditions and adult health evidence from the health and retirement study. In Population Aging Research Center Working Papers. Philadelphia, PA.

Stress Syndromes

Another job-related event that is potentially stressful is retirement. As noted by Butler and Lewis (1982, pp. 128, 130), In retirement, otherwise perfectly healthy men and women may develop headaches, depression, gastrointestinal symptoms, and oversleeping . . Irritability, loss of interest, lack of energy, increased alcoholic intake, and reduced efficiency are all familiar and common reactions. Though these symptoms are certainly not the norm, retirement is often accompanied by a sense of diminished usefulness, insignificance, loss of independence, and sometimes feelings that life is essentially over. Bereavement, like retirement, is more likely to occur in later adulthood. Depression, sleep disturbances, loss of appetite and weight, chronic fatigue, lack of interest in external things, and difficulties in concentrating are among the symptoms of bereavement. In some cases, reactions to the death of a spouse or other close relative are so intense that severe physical illness, a...

Families and Friends

In addition to being smaller, the families of today are different in other ways from what they used to be. Social changes have been accompanied by higher educational levels, higher divorce rates, a greater number of single-parent families, more mothers employed outside the home, earlier and more extensive retirement of older family members, and more leisure time and entertainment. Such developments have affected the attitudes, values, behaviors, and expectations of all family members, and particularly the younger ones. This chapter considers many of these structural and dynamic changes in the population and how they have affected the activities and ambitions of individual members of families.

Sources of Income

On the job but also with the perceived value of the job to the hiring organization and society as a whole. Of the 188 million Americans over age 14 receiving incomes in 1995, approximately 75 (140 million) had earned incomes. However, anyone who has attempted to complete an income tax form knows that gainful employment is not the only source of income. Depending on their age and status, people may receive income from any of the sources listed in Figure 10-2. As shown in this figure, many people have interest, Social Security, dividend, and pension income. Smaller numbers of people receive substantial amounts of income from survivors' benefits, disability benefits, alimony, workers' compensation, and other sources ((U.S. Bureau of the Census, 1996).


Job loss and unemployment can have serious repercussions for older and less-educated individuals, who may have great difficulty in finding another job (Kinicki, 1989). For many older workers, unemployment is the first step in early retirement (Robinson, Coberly, &Paul, 1985). On the other hand, the loss of a job is less disastrous for younger workers, who can expect to change jobs 5-10 times during their working years (Toffler, 1970). American workers can no longer count on lifetime employment with the same company. Younger workers who are laid off because of downturns in the economy, technological changes, corporate buyouts and mergers, competition, and downsizing are usually able to find new jobs if they are patient and continue searching. For example, most workers with marketable skills found new jobs after the massive downsizing of industries in the early 1990s.

Deciding to Retire

People retire for many reasons, and some for no conscious reason at all other than acceptance of the notion that people are supposed to retire by a certain age if they can afford to. Disabilities such as heart disease, hypertension, injuries, and mental disorders force many older adults to retire, even before age 65. In addition to health problems and disabilities, job loss or dissatisfaction, financial security, retirement of a spouse, pressure from younger workers, opportunity to participate in leisure and volunteer activities, feelings that they are not as productive as the once were, and discouragement over their inability to find a job all affect the decision to retire (U.S. Senate Special Committee on Aging, 1991 Human Capital Initiative, 1993). For many older adults, their jobs become increasingly burdensome and they begin to engage in a preretirement role-exit process (Ekerdt & DeViney, 1993). for organizations during a time of slow economic growth and retrenchment. Less...


Acceleration in technological advances, coupled with increases in the aging population, has led to an unavoidable convergence of these two major societal trends. What the blend can look like is largely dependent upon attitudes toward the elderly and the appropriate utilization of technologies in areas such as home health care, education, work retirement schemes, and adaptive lifestyles. As the population continues to age, it is likely that increasing numbers of those aged 85 or older will face incapacitating and largely unavoidable infirmities. The relationship between technology and aging underscores the importance of functional ability in maintaining the independence of the elderly, maximizing their options, and improving their quality of life. Technology has been the major factor in increasing life expectancy technology can further respond by providing additional knowledge and avenues to enhance the quality of life in advanced old age. The aging of the population raises critical...

Elder Abuse

Because older adults, who have poorer physical strength and skill and frequently live alone, are more vulnerable to crime than their younger contemporaries, a number of public and private organizations have taken steps to combat the problem of crime against the elderly. Older residents of metropolitan areas, in particular, are often preyed upon by thieves and attackers, who want the monthly pension and benefit checks, cash, and other property of older adults. Aged widows and others who live alone are special targets of these young hoodlums, who lie in wait for them in the streets or invade their homes (see Aiken, 1995).

Wills and Probate

As a way of reducing the tax burden on his or her estate and heirs, one of the first things that a person with a sizable amount of property wants to know from an estates attorney is how to avoid probate. This may be done through annuitization (insurance, retirement plans, employee stock plans, annuities, etc.). which are exempt from probate. Furthermore, in many states, bank accounts that are held jointly may be treated like jointly held real estate and hence are not subject to probate. Another way to avoid probate is to transfer most of one's assets to other people while one is still alive or to transfer them in the form of co-ownership (joint tenancy). In addition, one can give 10,000