Social Securityspousal benefitsare a way for you to get benefits based on your spouse's earnings if he or she has higher lifetime earnings than you do. While the basic concept is straightforward, this benefit has some quirks when it comes to who qualifies, how much they'll receive, and m...
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...
When you apply for spousal benefits as a divorced spouse, Social Security will assume you are also applying for benefits on your own work record, and you'll be eligible for the higher amount of the two. If your benefit is lower, Social Security will first pay you an amount based on y...
You would get a divorced spousal benefit only if it's greater than the amount you've earned on your own work record when you apply. Social Security pays the higher of the two amounts — not both. Divorced spousal benefits end if you remarry. To apply, you must be at least 62. Your...
Social Security benefits in 2022: How much more money you can expect Also keep in mind that you would not get the benefit from both your own record and the spousal benefit — you'd get the higher of the two. Using the above scenario: If your monthly benefit at age 62 would be less ...
Social Security calculates and pays the higher amount.3 If you were born on or before January 1, 1954, once you reach your FRA, you can choose to receive only the spousal benefit. You can apply for this by filing what is known as a "restrictedapplication." ...
Social Security spousal benefitsRial MoultonJDCFPCPA/PFSAdvanstar Communications Inc
How retirement benefits, spousal benefits, and widow(er) benefits are calculated, How to decide the best age to claim your benefit, How Social Security benefits are taxed and how that affects tax planning, Click here to see the full list. ...
For those who, are sick or need the money, taking benefits early could be the best option, but delaying claiming until as late as possible or until you need the money is usually the best strategy. Delaying claiming Social Security also helps increase the monthly spousal benefit (assuming your...
For many, delayed claiming offers a higher rate-of-return than alternative investments — and it’s guaranteed. Secret Strategies We know all the secret strategies for getting the most from Social Security retirement or spousal benefit claiming decisions....