spousal benefits
Can better communication between spouses lead to more retirement savings?
New research shows that married couples who do not communicate with their spouse about saving for retirement lose, on average, almost $700 in savings every year. The study found that “24 percent of couples failed to coordinate their contributions to…
Ask Rusty – Social Security Disability vs. Spouse Benefits vs. Survivor Benefits (and COLA)
Dear Rusty: I retired from working in June but will not sign up for Social Security until age 70 and, to do that, I plan to draw from my IRA for the next 3 years. My wife is receiving Social…
Ask Rusty – Can My Wife Claim Her Benefit Now, and Switch to a Spouse Benefit from Me Later?
Dear Rusty: Can my wife claim her benefits now (at 63, and we know about the reduction for claiming early) and then, when I retire at 66 years and 10 months of age almost 3 years from now, can she…
Ask Rusty – How Will My Wife’s Social Security Be Affected by her Teacher’s Pension?
Dear Rusty: My wife, born in 1960, was a Texas school teacher for about 10 years and receives a $1,000 per month pension from that work. She didn’t pay into Social Security while teaching, but she paid into it for…
For Those Approaching Social Security: Some Very Basic Fundamentals
If you’re nearing a decision on when to begin drawing Social Security benefits and, especially, if you’re considering filing early, there are some very, very basic questions you need to ask yourself before taking the plunge. If you’ve created a…
Social Security Advice for Women Could Equally Benefit Men
The Motley Fool’s Selena Maranjian takes a look at a series of tips provided by the Social Security Administration to help women make the best decisions for their benefits, but also notes that these ideas are essentially unisex. Calling them…
The Often Misunderstood Subject of Spousal Benefits–Some Clarifying Comments
Questions about benefits available to spouses fall into the most active category we deal with at the AMAC Foundation’s Social Security Advisory Service. For example, in 2022 the topics of spousal benefits and survivor benefits accounted for nearly a quarter…
Subtle Missteps That Can Lead to You Short-Changing Yourself on the Benefits Front
Even today, it’s surprising that many folks still are not fully aware of some of the very basic aspects that govern the amount of benefit they will be able to draw from Social Security. For example, our AMAC Foundation Social…
Ask Rusty – Will WEP and GPO Affect My Wife’s Spousal Benefit?
Dear Rusty: My wife worked for the US Postal Service in New York for about 22 years, and then in the private sector for about 15 years. She began collecting her “deferred annuity” from the USPS at age 62 and…
Social Security comes with its own rules and stipulations
Retirement planning involves coordinating your retirement savings vehicles, such as pensions, annuities, 401(k), IRAs, Thrift Savings Plans, and Social Security. Most individuals who have paid FICA taxes on their wages may qualify for Social Security benefits based on their own…