When my husband, Dale, passed away at age 57 from a sudden, massive heart attack two days before Thanksgiving in 2018, the last thing on my mind was the finances. This quickly changed, however, when I realized that as a relatively young widow of 54, I had just lost our second income.
To exacerbate my situation, due to my age and not having dependent children at home, I was ineligible to draw even partial Social Security income until turning 60. Nor could I withdraw from our retirement funds without heavy penalties and taxes until age 59 ½. On top of all that, my sole income from my freelance writing business would be subject to the higher single-payer tax bracket the following year.