An update, I have a lot of sympathy for those widows that believed their spouse that said they would be taken care of. I can name several cases where the husband promised the wife a good life if he passed and she got nothing.
At least 2 of these cases involve a military retiree that failed to sigh his wife for survivor benefits, what scumbags.
I just finished working with a lawyer showing my wife what she’ll be getting when I pass, she is very happy even though when I die there is a significant loss of income, but enough to keep her comfortable.
“she is very happy even though when I die there is a significant loss of income, but enough to keep her comfortable.”
I think I overdid it—my wife will be better off with me dead.
;-)
As a widow, husband died suddenly last year, I’m on a widow’s forum. I have discovered how SS works in different scenarios reading their stories.
If you become a widow under age 60 and have no kids, you get nothing from SS. If age 60 you can collect, however you are subject to income limitations until FRA.
A Widow who was married to a Vet will not get his pension unless married to him while in active duty.
You only get the higher of two SS payments. One SS amount goes back into the pull to pay other people. I just think it’s wrong- widows/widowers should get their spouses SS and theirs until they die.
Some widows discovered husband drained 401K. Had mistresses, didn’t have them as beneficiary, had an ex wife still on life insurance, or kids.
Some states give wife wife half, then kids get other half, each state is different.
We had a will and retirement funds set aside but others didn’t do a will, trust, etc. Our home was paid for when I retired and he was already medically retired.
Just sad so many people find themselves in bad situations when they lose a spouse.
“At least 2 of these cases involve a military retiree that failed to sigh his wife for survivor benefits, what scumbags.”
I take issue with you calling them scumbags. You do not know their financial background when they retired. You do NOT get to judge. I did not sign my spouse up for survivor benefits upon my retirement. She has been taken care of in other ways that provide more for her than a small income from an enlisted survivor retirement benefit. She will be well taken care of if I pass before her (to the tune of a few $M). By your definition I’m a scumbag because I invested the money into her well-being rather than take the cut in retired pay? I don’t think so.