Q
I’m trying to figure out how much to save for my retirement. Does the government offer any help with financial education?
A
Yes. For starters, you may want to find out what you can expect from Social Security with a visit to Social Security’s Retirement Estimator at www.socialsecurity.gov/estimator. The Financial Literacy and Education Commission has a website that can help you with the basics of financial education: www.mymoney.gov. Finally, you’ll want to check out the Consumer Financial Protection Bureau, which offers educational information on a number of financial matters, including mortgages, credit cards, retirement and other big decisions. Visit the Consumer Financial Protection Bureau at www.consumerfinance.gov.
Q
Will my son be eligible to receive benefits on his retired father’s record while going to college?
A
No. At one time, Social Security did pay benefits to eligible college students. But the law changed in 1981. We now pay benefits only to students taking courses in grade 12 or below. Normally, benefits stop when children reach age 18, unless they are disabled. However, if children are still full-time students at a secondary (or elementary) school at age 18, benefits generally can continue until they graduate or until two months after they reach age 19, whichever comes first.
For questions, online applications or to make an appointment to visit a SSA office, call from 7am–5pm, Mon–Fri: 1-800-772-1213 (toll free) | www.socialsecurity.gov
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