Complications That Married Couples Face When Claiming Benefits
Anyone who’s looked into the process for claiming Social Security benefits knows that it can be deceptively complex. Many uninitiated approach the process with the simplistic view that when you turn 62, you just go and sign up. They quickly find out that there are a number of factors that need to be considered in order to make the correct decisions for one’s particular situation, like understanding the reduction in benefits for pre-FRA (full retirement age) filing, the impacts on survivor and spousal benefits, and so on. It’s complex enough for a single person, but even more so for married couples, as explained in a ThinkAdvisor.com post by John Manganaro, which you can access here… In a series of slides, Manganaro delves into the confusion surrounding the infamous “file and suspend” strategy, how spousal benefits are determined for married couples, the impact of remarriages on benefit eligibility, and several related topics.
After reading the Manganaro post, if you still have questions about your specific circumstances and how the rules can be applied, know that the AMAC Foundation offers a free-to-the-public service featuring the availability of a staff of trained and NSSA-accredited Advisors who can help you. Learn more about this acclaimed service via the Foundation’s website.