Survivor benefits
Ask Rusty – If Either of us Die, Will the other Get a Survivor Benefit from Social Security?
Dear Rusty: I am 79. My husband is also 79 and we both receive Social Security benefits. We were both married before, and we married each other at the age of 58. Am I to understand correctly that when either of us dies, the surviving spouse is not…
Strategic Thinking for Married Couples to Enhance Benefits
Financial planning for retirement is important for everyone, but for married couples, the timing of claiming Social Security benefits can take on added importance. Delaying claims to take advantage of delayed retirement credits is, of course, one step toward achieving…
The AMAC SSG: How does it align with Social Security’s Purpose?
Social Security’s establishment 90 years ago followed the Great Depression and, as such, had a twofold purpose: to provide immediate assistance to destitute families in the wake of devastating financial losses in their retirement savings, and to create a long-term,…
Ask Rusty – I Lost Money as a Widow and Ex-spouse by Not Knowing the Rules
Dear Rusty: I just found out, as someone who was collecting widow’s benefits on my second husband (a very small amount) for some time, that I was, all along, entitled to divorce benefits from my first husband which are much…
Social Security Survivor Benefits – Part 2
Understanding the “Widow Limit” The “widow limit” rules apply in situations where the higher-earning spouse took their benefits early, such as at the age of sixty-two. When someone takes their retirement benefits at age 62, they receive 75% of their benefit…
Spousal Benefits and the Impact of Changes in Marital Status
As if Social Security rules were not complex enough, there’s a segment of the rulebook that makes the basic spousal benefit segment even more complicated. Some of the intricacies could reduce benefits in certain circumstances, and others could eliminate them.…
Social Security Survivor Benefits – Part I
Perched high on the list of questions most frequently asked of the AMAC Foundation’s Social Security Advisor Service is the topic of “survivor benefits.” The term “survivor benefit” refers to benefits available to the dependent(s) of a deceased person who was either…
Understanding Survivor Benefits
The death of a spouse is generally a traumatic event in a couple’s life and, in so many instances, causes considerable stress for the survivor left to navigate the financial decisions in the future. While the basic rules governing the…
Retirement Security for Couples
We encourage Americans to focus on saving for their co-called “golden years.” Saving for retirement is, of course, important, but equally important is how Social Security income fits into each couple’s retirement future. After all, statistics show that, savings aside,…
Ask Rusty – I’d like to retire early, but don’t want my Social Security reduced
Dear Rusty: I will be 65 this year and my husband is 72 (he retired in 2019 at age 66). I would like to retire and enjoy some time with him before he gets too much older. I do not…