Spousal Benefits: 7 Facts To MAXIMIZE Your SOCIAL SECURITY Benefits

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Spousal Benefits are some of the greatest and most complex parts of Social Security.

Below, I give 7 must-know facts regarding social security spousal benefits. These facts help explain how social security spousal benefits work:

1 - Primary Earner must begin taking their benefit before the other spouse can receive their spousal benefits
2 - Reduced Spousal Benefits if you take your personal benefit early
3 - Taking Spousal Benefits early reduces the Spousal Benefit
4 - No boost in Spousal Benefits past the primary earner's FRA
5 - "File & Suspend" is not a strategy anymore
6 - Divorced spouses may be entitled to Spousal Benefits
7 - Husband can take his benefit early without impacting his wife's Spousal Benefit

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Chapters:
0:00 Intro
0:06 Spousal Benefits Explained
0:50 Basic Requirements
2:11 Fact #1 - Primary Earner Must Begin Their Benefit
2:46 Fact #2 - Reduced Spousal Benefits if you take your personal benefit early
4:58 Fact #3 - Taking Spousal Benefits early reduces the Spousal Benefit
6:07 Fact #4 - No boost in Spousal Benefits past the primary earner's FRA
7:18 Fact #5 - "File & Suspend" is not a strategy anymore
7:54 Fact #6 - Divorced spouses may be entitled to Spousal Benefits
9:08 Fact #7 - Other Incomes That Come Later In Retirement
9:58 BONUS - Strategies to maximize benefits
12:11 DOUBLE BONUS: How I determine this with clients
17:57 - Outro



#retirementplanning #socialsecurity #socialsecuritybenefits
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Disclaimer:
This video is for educational purposes only. Nothing in this video should be considered advice. Please consult a professional financial planner, tax advisor, and estate advisor before making any decisions. Every situation is different; therefore, any reference to a client, prospect, or fictional client outcome is specific to that client, prospect, or fictional example, and each person's results may vary. Data points used come from sources deemed to be reliable.