Enhanced Investments - Financial Portal

Social Security Survivor Benefits Only Cover Half of the Lost Earnings for Young Families According to ValuePenguin.com Study

Published: 2020-07-08 13:03:00 ET

On average, most surviving families are short income by over $2,695 per month.

NEW YORK, July 8, 2020 /PRNewswire/ -- Losing a loved one is difficult for many, but for those who lose the primary provider for their home, it could mean not being able to pay the bills needed to provide for a family.

According to a study by ValuePenguin, survivor benefits only cover approximately half of what a young family would need to financially sustain themselves upon losing a sole provider. Furthermore, some families may not receive benefits if the earner did not pay into social security long enough. Here are the key findings of our research:

Social Security survivor's benefits leave a surviving spouse and two children short by $2,695 each month, or 49% of their budget, after losing their deceased loved one's earnings.
Surviving families in the District of Columbia are hardest hit by a considerable margin, with anincome gap of $5,801, or 70%, every month.
Massachusetts and Connecticut follow with larger shortfalls of $3,997 (57%) and $3,989 (56%), respectively.
West Virginian families fare best, with the still sizable gap of $1,646 a month, or 38%.
On the other hand, Idaho and Mississippi afford smaller shortfalls at $1,843 (39%) and $1,648 (40%), respectively.

To view the full report, visit: https://www.valuepenguin.com/social-security-life-insurance-study

About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com, like our Facebook page, or follow us on Twitter @ValuePenguin.

Media Contact:Nadia Gonzalez (Mrs.)Nadia@LendingTreeNews.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/social-security-survivor-benefits-only-cover-half-of-the-lost-earnings-for-young-families-according-to-valuepenguincom-study-301089544.html

SOURCE ValuePenguin.com

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.