Avoid This Social Security Spousal Benefit Mistake & Secure Your Future!

Race Day Live  Many older Americans become eligible for Social Security after working for at least 10 years and paying into the system.

But even if you’ve never worked, you may still qualify for Social Security in retirement through spousal benefits. This allows you to receive a portion of your spouse’s or even your ex-spouse’s benefits.

While this can be a great financial help, you need to be careful when claiming these benefits. One simple mistake could cost you money that you are entitled to.

Spousal vs. Survivor Benefits – Know the Difference

One common mistake people make is confusing spousal benefits with survivor benefits. These are two different types of Social Security payments.

• Survivor benefits apply if your spouse has passed away. You can receive 100% of their benefit if you qualify.
• Spousal benefits, on the other hand, provide up to 50% of your spouse’s benefit while they are still alive.

For example, if your spouse’s full benefit is $2,400, you may be able to receive up to $1,200 per month as a spousal benefit.

However, this amount can change based on when you apply.

When Should You Claim Spousal Benefits?

The timing of your claim makes a huge difference. The earliest you can apply for spousal benefits is age 62, but applying early will reduce your benefits.

The best time to claim is at full retirement age (FRA), which is typically between 66 and 67 depending on your birth year.

Unlike personal Social Security benefits, spousal benefits do not increase if you delay them past your FRA.

This means that waiting until age 70 will not give you higher payments. If you delay too long, you are simply missing out on money you could be receiving.

Key Takeaway:

• Applying before FRA = Reduced Benefits
• Applying at FRA = Full Benefits
• Waiting beyond FRA = No Increase, Only Missed Payments

How Spousal Benefits Are Calculated?

Your spousal benefit is based on your spouse’s full retirement age benefit amount, not what they receive. Here’s how it works:

• If your spouse claims before their FRA, their benefit is reduced, but your spousal benefit is still based on their FRA amount.
• If your spouse delays their claim, they get a higher benefit due to delayed retirement credits, but your spousal benefit remains capped at 50% of their FRA benefit.

Example Scenario:

• Your spouse’s FRA benefit = $2,400
• Your max spousal benefit (at FRA) = $1,200
• If you claim early at 62, you may only get $800–$900 per month
• If you wait until 70, you still get only $1,200

This is why claiming a full retirement age is the best option for most people.

Read More:

• I Claimed Social Security at 65,Now I Regret It – Don’t Make This Costly Mistake!
• Social Security Warns Public About Rising Imposter Scams!

Talk to a Financial Advisor for a Better Strategy

Social Security rules can be complicated, and making the right decision requires careful planning. Sitting down with a financial advisor can help you figure out the best timing for you and your spouse.

For example, your spouse might want to delay their claim to get a bigger benefit, but that could mean you have to wait longer to claim spousal benefits.

Running the numbers with an expert can help you make the best financial decision.

Final Thoughts

Social Security spousal benefits can provide great financial support, but timing matters.

The biggest mistake people make is delaying their claim beyond their full retirement age, thinking they will get more money. Unlike regular Social Security benefits, spousal benefits do not increase after FRA.

To avoid losing out on payments:

• Understand the difference between spousal and survivor benefits.
• Claim at full retirement age for the best payout.
• Get expert advice if you’re unsure about the right strategy.

By knowing the rules and making the right choices, you can maximize your Social Security benefits and enjoy a more secure retirement.

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