The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Accessed June 18, 2020. You must be logged in to leave a comment. "Apply for Social Security Benefits." Your spousal benefit is not affected by the age at which your husband or wife claimed Social Security benefits. Stock Advisor launched in February of 2002. The rules are similar to other spousal benefits but survivor benefits can begin as early as age 60. Returns as of 11/11/2020. Cumulative Growth of a $10,000 Investment in Stock Advisor, 5 Things to Know About Social Security Spousal Benefits @themotleyfool #stocks, 4 Major Retirement Planning Mistakes Most Americans Make, Supercharge Your Retirement Income With These 3 Strategies. There are also situations where each partner is eligible to collect their own benefits, but it may make more sense for one partner to receive spousal benefits from the other. How Can I Find Out If a Former Spouse Is Collecting Social Security Benefits On My Record? In the next 24 hours, you will receive an email to confirm your subscription to receive emails You are at least 62 (unless you are caring for a child who is under 16 or disabled, in which case the age rule does not apply). AARP members receive exclusive member benefits & affect social change. Spousal benefits aren't just reserved for people who never earned money. Social Security Administration. If your ex hasn't applied for benefits yet, but can qualify for them, you can receive benefits as long as you have been divorced for at least two years. You may be able to do this in the form of spousal benefits, or as survivor benefits if you are a widow or widower. again. En español | Yes. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. As a spouse, you can claim a Social Security benefit based on your own earnings record, or collect a spousal benefit in the amount of 50% of your spouse’s Social Security benefit, but not both. With survivor benefits, if your late spouse boosted his or her Social Security payment by waiting past FRA to file, your survivor benefit would also increase. Solman said that his wife and he had decided to delay collecting checks until they would get the maximum amount at age 70. When you, your spouse, or your ex-spouse apply for benefits, the system will make note of your eligibility for benefits as a spouse. Fidelity. Social Security Administration. If you were married for at least 10 years, you may indeed be able to collect Social Security benefits through your ex. "If You Are Divorced." She can't receive both. See you at the top! Maurie Backman is a personal finance writer who's passionate about educating others. Accessed June 18, 2020. Widows Waiting to Wed? A married spouse without an earnings record (or whose record would result in a lower Social Security payment) can collect on his or her spouse's earnings record when his or her spouse turns 62. However, if you remarry before age 60, you cannot receive survivor benefits while married. The proportion rises from 71.5 percent if you claim survivor benefits at 60 (50 if disabled) to 100 percent if you wait until your full retirement age (which is currently 66 but is gradually rising to 67). Regardless of the amount of the spousal benefit, it does not affect the amount of your mate’s retirement payment. "Widows Waiting to Wed? | All rights reserved (About Us). Javascript must be enabled to use this site. But you must be at least 62 to file. Spouses can collect, but you have to be old enough to collect, too. "How Can I Find Out If a Former Spouse Is Collecting Social Security Benefits On My Record?" Kotlikoff pointed out that they would be leaving $50,000 on the table. Imagine you're entitled to a monthly benefit of $1,000 based on your earnings history. In her somewhat limited spare time, she enjoys playing in nature, watching hockey, and curling up with a good book. Depending on eligibility, a divorced spouse may indeed be able to collect Social Security benefits through an ex if they were married for at least 10 years. If you are 62 or older, you can choose which benefit you want at your full retirement age. When you turn 62, and if you decide to apply for Social Security based on your earnings record at that time, your wife can start getting 50 percent of your benefits at full retirement age, he said, assuming the benefit is higher than the benefit she is receiving based on her own earnings record. Depending on your age upon claiming, spousal benefits can range from 32.5 percent to 50 percent of your husband’s or wife’s primary insurance amount (the retirement benefit to which he or she is entitled at full retirement age, or FRA). AARP. You do not need to make a separate request. If your ex has not yet applied for retirement benefits but can qualify for them, you can receive benefits based on their earnings record, provided you have been divorced for at least two years. The marriage must have lasted 10 years or more and you can… Investopedia requires writers to use primary sources to support their work. My wife only worked for 12 or 13 years and won't collect very much from Social Security. However, these credits don't apply to spousal benefits, so delaying yours past full retirement age won't put any more money in your pocket. An alimony payment is a periodic pre-determined sum awarded to a spouse or former spouse following a separation or divorce. But what if you never worked? You're probably aware that if you work and therefore pay into Social Security, you're entitled to benefits in retirement. Spousal benefits can be a huge financial help in retirement if you never worked, or if you did work but weren't a very high earner. The Trade Desk vs. Chevron, Copyright, Trademark and Patent Information. You are leaving AARP.org and going to the website of our trusted provider. Collecting Social Security at 62 has some advantages. Here's How Social Security Survivor Benefits for a Spouse Work, Explaining Social Security Spousal Benefits, Retiring Early and What It Means for Your Social Security. Can I collect spousal benefits and wait until I am 70 to claim my own Social Security? Find the answers to the most common Social Security questions such as when to claim, how to maximize your retirement benefits and more. Accessed Dec. 9, 2019. Action Alerts PLUS is a registered trademark of TheStreet, Inc. until they would get the maximum amount at age 70. NEW YORK (MainStreet) — One day, in 2010, Paul Solman, business and economics correspondent for “The News Hour with Jim Lehrer,” and Larry Kotlikoff, a professor of economics at Boston University, were chatting about money when Kotlikoff asked Solman when he planned to start taking Social Security retirement income. If the former partner remarries and the second spouse dies, the person can claim benefits based on either spouse's eligible benefit. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. When you're claiming Social Security based on your own work record, there's the option to hold off on taking benefits past full retirement age to accrue delayed retirement credits. Should you remarry, you'll need to notify Social Security, which will terminate your benefits -- unless the person you're marrying is your ex-spouse.

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