5 Simple Ways to Increase Your Social Security Spousal Benefits

Описание: As you approach retirement, maximizing your Social Security benefits is crucial. If you’re married or were married for at least 10 years, spousal benefits can significantly impact your retirement income. Here are five key strategies to optimize this benefit:

Assess Your Options: Compare your own Social Security benefit with the spousal benefit, which is 50% of your spouse's primary insurance amount (PIA). Choose the higher option.

Wait Until Full Retirement Age (FRA): To receive the maximum spousal benefit, wait until your FRA (between 66 and 67 for most) before collecting. Collecting earlier will permanently reduce your benefit.

Spouse Must File First: You can only collect spousal benefits after your spouse has filed for their own Social Security benefits.

Coordinate Benefits: If your benefit is lower, you’ll receive an additional amount to match 50% of your spouse’s PIA. Plan the timing carefully, especially if one spouse delays benefits until age 70.

Maximize Overall Impact: Consider how Social Security fits into your broader retirement strategy, including survivor benefits, which can be more valuable if delayed.

By following these strategies, you can secure the full advantage of your Social Security spousal benefits and ensure a more comfortable retirement.

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⏱Timestamps:⏱
0:00 - Marital requirements & spousal benefits
2:01 - On delaying and full retirement credits
4:10 - A nuance to understand
7:02 - Early collection
8:19 - A timing question
10:23 - Survivor benefits
13:05 - In summary

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