If you take spousal benefits, you won’t affect the benefits your husband or wife receives. Their benefit is based solely on their primary insurance amount and when they claim. In the past, couples often maximi
Why Social Security Payments Are Delayed It isn’t common, but there are times when your Social Security payment could be delayed. Maryalene LaPonsieApril 30, 2025 401(k) Rollover: Is an Annuity Right? Annuities offer protection, but your 401(k) already gives you tax advantages without th...
But Collecting Social Security Benefits Well Into Old Age Is Nothing New. The very first person to collect monthly Social Security retirement benefits was named Ida May Fuller. A resident of Vermont, Ida May retired in 1939 after paying into Social Security for just three years. Ida May receive...
Here’s how that used to work: When a wife reached FRA, she would file for Social Security benefits, with the husband claiming his spousal benefits. Then the wife would request the SSA to suspend her benefits. While her benefits were suspended, she would have accrued delayed credits, increas...
Figuring out when and how to take Social Security can be a complicated decision. If you're widowed, divorced, or have never married, here are some strategies to consider to help make the most of your Social Security benefits.
Even if it turns out that Elaine is overly optimistic and she dies at age 89, her lifetime benefits will still increase approximately 8% and she would collect approximately $20,000 more in Social Security benefits if Aaron claims at age 70 instead of age 62, assuming Elaine continues to cl...
This figure is the primary figure against which all calculations are run for figuring your retirement benefit, and for calculating a Spousal Benefit for your wife or husband. * If an individual is also receiving a pension from a job which was not subject to Social Security withholding taxes, ...
is based on the contributions you make to the system when working. As you work, you pay into Social Security and later on, when you retire, you receive the benefits. Your contributions take the form of the Federal Insurance Contributions Act (FICA) taxes that are withheld from your ...
Social Security Explained: How It Works and Types of Benefits Getting Started How Social Security Is Organized Getting Benefits Benefits and Your Income Benefits for Spouses Benefits for Dependents, Survivors, After Divoce How Children's Benefits Work ...
a year before you can start withdrawing from Social Security. Once you're married, the goal is to then live for as long as possible in order to collect as much Social Security benefit for as long as possible. Shoot for age 100, it's a nice even number. If your spouse dies before yo...