Understanding Social Security and Medicare flipbook 2024

Social Security offers benefits similar to a lifetime pension. Not only does it provide a guaranteed income stream, but it also offers longevity protection, spousal protection, and even some inflation protection. Regardless of your marital status, there are strategies that might increase the lifetime benefits you receive from Social Security. It is also important to understand how the claiming age of each spouse could affect monthly and lifetime benefits. 1 Society of Actuaries, 2023 Will Your Sources of Income Last a Lifetime? At age 65, a healthy man or woman can reasonably expect to spend up to 20 or 30 years in retirement. There is a 63% chance that one member of a couple will live to age 90.1