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Spousal Benefits, One of the Most Misunderstood Social Security Benefits - YAHOO/FINANCE
Spousal benefits can be an important part of your retirement planning when deciding when to start your Social Security benefits. They are available to both current and divorced spouses, though special rules apply to divorced spouses. Also, an ex-spouse collecting a spousal benefit does not affect a current spouse, or vice versa; both are eligible, on the same recipient with the higher benefit.
People are not always aware of Spousal benefits, and sometimes those who are believe they are entitled to a spousal benefit equal to 50% of their spouse's benefit, regardless of when they start their benefits. You receive a spousal benefit equal to 50% of your spouse's higher benefit only if you wait until your FRA to claim benefits; this includes your own retirement benefit if you have one. Even if you never worked outside the home, you may still be eligible for a spousal benefit.
Maurie Backman has written an article on Spousal benefits and the importance of including them in your retirement plan.
Spousal benefits are one of the most misunderstood Social Security benefits available. If you have questions, we recommend speaking with a Social Security Advisor. AMAC Foundation has a staff of accredited advisors. Call 888-750-2622 to speak with one or email your questions to ssadvisor@amacfoundation.org
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.