. However, additional benefits such as spousal benefits may help supplement income for lower earners. Good to know: If you receive a government or private pension for a job that didn’t contribute to Social Security, the SSA may reduce your benefits. How much the SSA reduces them depends on...
The Bipartisan Budget Act of 2015 changed the rules on filing for spousal benefits underSocial Security, eliminating some popular claiming strategies that once allowed couples to increase their benefits. The new law didn't, however, do away with spousal benefits entirely. If you qualif...
Social Security spousal benefits pays qualifying spouses the greater of the two: their benefit based on their own work record (if they worked), or up to 50% of their spouse’s benefit. When you apply for benefits, the Social Security Administration calculates it both ways and pays you the ...
Social Security benefits are primarily retirement payments, but when someone in your family passes away, you might be entitled to survivors benefits.
doi:urn:uuid:c6b1d4906c62b410VgnVCM100000d7c1a8c0RCRDA lot of questions about Social Security revolve around basic procedural issues.Gail BucknerFox Business
Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less See it on Amazon. Topics Covered in the Book: How retirement benefits, spousal benefits, and widow(er) benefits are calculated, ...
Before you claim Social Security early, you may want to think about how the move would impact your spousal benefits. To begin with, not all early filers can access those benefits immediately — and for those who are able to, the decision may not mean getting a bigger monthly check. It's...
The Social Security benefits formula might seem complicated, but it's not too difficult once you break it down. You may not be able to precisely calculate your benefit if you're too young for Social Security, but keeping these guidelines in mind can help you squeeze the most money possible...
File and suspend was a Social Security claiming strategy that allowed couples of retirement age to receive spousal benefits while delaying retirement credits.
If you were born after 1928, you’ll need at least 40 credits—or about 10 working years—to claim benefits when you turn 62, the earliest age to claim Social Security benefits. If you don’t reach 40 credits, you may still be eligible forSocial Security spousal benefits, though your mo...