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Financial Planning / Tax Strategies
|Subject: Social Security Income/Benefit||Date: 10/16/2013 1:23 PM|
|Author: Bonroy1924||Number: 119324 of 122998|
I know this isn't an SS board, but I'm posting here because it seems some posters here would know this.
I'm curious what benefits a family gets, if the head of household dies.
Me: 40 years old. I'm the sole earner. Have 'maxed out' SS contributions for 15 years and my latest SS statement claims I'll get $1800/month upon retirement. Also claims my family would get benefits if I died, in that kids would get around $1600/mo EACH until they are 16. Spouse caring for kids would get similar. "Max" benefit $4,200/month. But when you dig into it it's nebulous so I wash hoping someone here knows this.
1.)Say I croak now.
2.)Wife's income would be $140k per year, this is SOLELY thru interest/dividends on nest-egg.
3.)2 kids, let's say age 5.
What benefit, if any, would these family members get?
Thank you for reading.
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