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Don’t Overlook Spousal Benefits! - Motley Fool
Ever since the first Social Security benefit was paid in 1940, benefits for a stay-at-home spouse have been a part of the program’s structure. A change in workforce demographics over the years, though, means that today it is very common that both spouses work and become entitled to their own Social Security retirement benefit. What some spouses don’t realize, however, is that if there is a large enough disparity between the benefit each spouse is entitled to, the spouse with the lower amount may be entitled to a higher payment based upon their partner’s lifetime earnings record. And that can be true even for ex-spouses, as explained in this Motley Fool article by Katie Brockman. To be clear, those extra benefits aren’t available to all spouses or ex-spouses but, if qualified, a lower earning spouse can often get a boost of hundreds of dollars per month to their personally earned Social Security benefit. Click here to read more.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. Learn more about it here…