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Social Security and Marriage
Social Security is set up in a way that those that are a non-working spouse can still benefit from their working partners earned income. This is a great boon to those that put off their career in order to take care of their family at home and otherwise would have missed out on growing their career in a way that would benefit their retirement account and grown their own Social Security benefits. One common practice for couples filing for Social Security is going away at the end of this month with the closing of “File and Suspend.” This means that couples need to be smarter about how and when they individually file in order to get the most out of their combined benefits. For more information visit this article by Matthew Frankel with The Motley Fool.