Sandra Hilton of Sisseton, South Dakota, age 60, recently was in a vehicle accident, was hospitalized, and then suffered a heart attack. She took a leave of absence from her long-time job as a data analyst for an environmental lobbying firm to recuperate. Using Appendix B answer these questions: a. If her earnings averaged $35,000, what would be her monthly Social Security disability benefit? Round your answer to the nearest dollar. $ b. If her earnings instead averaged $80,000, what would be the monthly benefit? Round your answer to the nearest dollar. $
Sandra Hilton of Sisseton, South Dakota, age 60, recently was in a vehicle accident, was hospitalized, and then suffered a heart attack. She took a leave of absence from her long-time job as a data analyst for an environmental lobbying firm to recuperate. Using Appendix B answer these questions: a. If her earnings averaged $35,000, what would be her monthly Social Security disability benefit? Round your answer to the nearest dollar. $ b. If her earnings instead averaged $80,000, what would be the monthly benefit? Round your answer to the nearest dollar. $
Chapter11: Planning For Health Care Expenses
Section: Chapter Questions
Problem 3DTM
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Transcribed Image Text:Sandra Hilton of Sisseton, South Dakota, age 60, recently was in a vehicle accident, was hospitalized, and then suffered a heart attack. She took a leave of absence from her long-time job as a
data analyst for an environmental lobbying firm to recuperate. Using Appendix B answer these questions:
a. If her earnings averaged $35,000, what would be her monthly Social Security disability benefit? Round your answer to the nearest dollar.
$
b. If her earnings instead averaged $80,000, what would be the monthly benefit? Round your answer to the nearest dollar.
$
Transcribed Image Text:Appendix B.1
Monthly Retirement Benefits at Age 67 in Today's Dollars
Per month
Per year
Estimates of Social Security Benefits for the Three Major Social
Security Programs
As a percentage of income
Monthly Retirement Benefits at Age 67 in Future Dollars
Per Month
Per Year
Monthly Disability Benefits if You Became Disabled in 2018
Individual benefit per month
Individual benefit per year
As a percentage of income
Maximum family benefit per month
Maximum family benefit per year
As a percentage of income
Monthly Survivor's Benefits if You Died in 2018
Individual benefit per month
Individual benefit per year
As a percentage of income
Maximum family benefit per month
Maximum family benefit per year
As a percentage of income
$35,000
$ 1,480
$17,760
51%
$ 6,170
$74,040
$ 1,330
$15,960
46%
$ 2,000
$24,000
69%
$ 1,040
$12,480
36%
$ 2,380
$28,560
82%
$50,000
$ 1,890
$22,680
45%
$ 7,860
$94,320
$ 1,690
$20,280
41%
$ 2,530
$30,360
61%
$ 1,310
$15,720
31%
$ 3,210
$38,520
77%
Present Annual Earnings
$65,000
$80,000
$ 2,260
$ 27,120
42%
$ 9,550
$114,600
$ 2,040
$ 24,480
38%
$ 3,060
$36,720
56%
$ 1,560
$ 18,720
29%
$ 3,710
$ 44,520
68%
$ 2,450
$ 29,400
37%
$ 10,410
$124,920
$ 2,280
$ 27,360
34%
$ 3,420
$ 41,040
51%
$ 1,750
$ 21,000
26%
$ 4,090
$ 49,080
61%
$95,000
$ 2,640
$ 31,680
33%
$ 11,200
$134,400
$ 2,460
$ 29,520
31%
$ 3,690
$ 44,280
47%
$ 1,890
$ 22,680
24%
$ 4,700
$ 52,800
56%
$120,000
$ 2,940
$ 35,280
29%
$ 12,440
$149,280
$ 2,720
$ 32,640
29%
$ 4,080
$ 48,960
41%
$ 2,090
$ 25,080
21%
$ 4,870
$ 58,440
49%
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