Salem, Noah Dingli discussed on America First


Here in the very same Salem network stations I'm Noah Dingli thanks for joining me now it's time for her that chat we have on a daily basis but Marty Schneider the retirement professor Marty how are you doing terrific thank you well I thought it would be interesting to talk about it there's an article out there that talks about and I didn't know about this the slight difference is when taking your social security benefit between men and women there's a difference out there what is that Marty yeah it's a challenge that women have that is really unique unto them and look then then the reason for this is you know how the size of your social security check now is largely based on your work record right and the Social Security Administration averages your highest thirty five years of earnings well for women in particular and the patterns have changed a lot of women are taking time out of the workforce to either care for children or raise the family or give care to aging parents or spouses in so consequently they're their own earnings records and the resulting from social security check that they receive takes a bit of a hit because they may have a number of years in there where they were off the rolls in terms of earning income from a job true it's a little it's a little different isn't it it really is and so this is a unique challenge relative to men also no they they live on average women live longer so they're spending more years in retirement and also is there still a wage gap they don't earn typically as much as their male counterparts so once they get into retirement for ladies they face higher health care costs because they live longer and there's more medical issues along the way so most women fifty eight percent expect social security to cover all of their expenses in retirement and in reality now with those benefits are only going to cover about forty percent of women to retirement costs so you know women on average analysts been ten years out of the work force to serve in some Kerr giving capacity whether that's for you know parents are raising kids or what have you so and when you're there when you're talking about the long term aspect of your social security I mean that that that's a pretty hefty hit when you think about it very significant and and you know there are some proposals that have been kind of banter to ballot to give credits if two women when they are serving and care giving roles so it doesn't negatively impact their social security calculation that's available in other parts of the world United Kingdom Sweden Germany some other countries give credits of two women for their social security programs as if they were working even though in our system that would put a zero into the calculations so that's been floated out there and it's among many different social security conversations that are being bantered about right now in Congress but it is something that we need to be aware of because of these issues are real for sure well that is a definitely interesting if you want to talk about more in depth about this with Marty Schneider the retirement professor professor give them a call today at one eight hundred seven.

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