Understanding Social Security Spousal Benefits and How to Maximize Your Income
Friday, 26 April 2024, 09:02
Social Security Spousal Benefits Importance
Spousal benefits can be a financial lifeline in retirement, especially for non-working spouses. Understanding how to claim them is crucial for retirement planning.
Spousal Benefit Calculation
- Average Benefits: Wives receive around $915 monthly, and husbands about $714.
- Claiming Strategy: Wait until full retirement age to avoid benefit reduction.
- Maximizing Benefits: You may be entitled to the higher amount between your own and spousal benefits.
Knowing the rules and how to calculate spousal benefits is essential for making the most of your Social Security income.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.