The Basics of Social Security Survivor Benefits

There are many models of disability such as the social model, the moral model, the medical model, the spectrum model, the tragedy or charity model, the legitimacy model, the economic model, the social adapted model and more. Disabilities may allow one to partially work or completely be bed ridden or not work. human society only pays for total disability.

Many people believe that Social Security is the agency that evaluates their medical condition when applying for disability. This evaluation is actually performed by an agency of the State you live in. This State government agency is called Disability Determination Services, and they will typically take 120 days to make a decision on your Social Security Disability application.

As the arguments rage on, it is better to keep up with the news about this vital issue. The main point is that Social Security is a safety net for most of the United States residents. Whatever change or amendments on its policies and implementation may be, the main purpose of its creation almost 70 years ago must still be intact.

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You are required to get a Social Security number before you work your first job. Parents will need a number for kids to claim a deduction on their taxes. Officially, if you are 18 and earn money, you have to get a number because the employer has to use it to report their income. You can't opt out of the Social Security system. Social Security is the name given to a host of programs. Technically, it is old age, disability, survivor's insurance, supplemental security income for the disabled or the elderly. Employees and employers are required to pay Social Security taxes. Most of the money collected goes to pay current recipients.

I am afraid that the era of planning around and relying upon government programs such as Social Security to provide for us in our retirement years is coming to an end. We all need to start preparing and planning on other measures, in order to take our retirement destinies into our own hands. Do you have a plan?

What if the stock market scares you? What if you were to only seek out guaranteed secure investments and you only received less than ½ of that 10.8% return in the former example? How would you fare if you only accumulated a 5% rate of return over those 50 years? Your total would still be over $1 million! Once again, this is your money. Money that you can take at age 66 and wallpaper your walls with if you so desire. Try that with Social Security. With $1 million earning no interest, you can take out $2500 every month until your 98 years old! Once again, we substantially outperform Social Security and have the very important option to do whatever we like with that "nest egg."

Medicare is a part of social security benefits. Medicare taxes are a percentage of the overall social security taxes one pays in each paycheck. For example, social security taxes could be taking out 6% of your paycheck. Of that 6%, 1.5% goes straight to Medicare. This 1.5% goes into a federal trust fund that goes to pay the cost of Medicare beneficiaries' hospital and health related bills.

Because people are aware of this Social Security crisis, people can start to plan for it on their own. Setting up a 401(k) is a way of saving directly for retirement by having a portion of their earned money sent to their separate 401(k) account. Unfortunately, not all employers offer this option to their employees. Another governmental action that could be taken is forcing those who earn +$97,000 a year to begin paying Social Security taxes.