Understanding Spousal Benefits and Social Security Claims
Thursday, 15 August 2024, 13:26
Understanding Spousal Benefits
If a spouse earns significantly more money, it raises important questions about claiming Social Security benefits. My spousal benefit under his record would be substantially more than applying under my own. In particular, waiting to claim benefits until the age of 72 can maximize the amount received.
Key Considerations
- Claim Timing: Delaying benefits can increase monthly payouts.
- Spousal Benefits: Consider the benefits available from the higher-earning spouse’s record.
- Financial Planning: Assess your overall retirement strategy to make an informed claim decision.
Conclusion
Ultimately, understanding how spousal benefits work in relation to Social Security claims will help ensure you make the best choice for your financial future.
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.