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Employer Benefits - Workers age 65+ at large companies can still be covered by group healthinsurance, thereby postponing Medicare premiums. Other benefits also continue.
If the husband dies first, the wife is left with $1,250 (50% of husband’s pension), $800-wife’s pension, and $2,000 (highest Social Security) for income of $4,050 ($48,600 annually). This is a 40% “haircut,” which some couples cover with spousal gifts, annuities, and/or life insurance.
A Stanford-led study revealed that nearly half of teachers surveyed were frequently anxious about their finances, compared to only 17% of the general population. Because of stagnant salaries, educators face challenges not only in managing their daily finances but also in planning for larger expenses.
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