Social Security benefits, claiming strategies, spousal and survivor benefits.
Most of us don’t really know what our Social Security number means. Why is one person’s number so very different from someone who was born in the same hospital a few years later? Do they recycle Social Security numbers? What do those three sequences represent? And what is a Social Security number? According to the […]
Former wives (and all spouses, for that matter) of a worker who dies can receive Social Security divorced spouse benefits, as either spousal or survivor benefits. Moreover, they can receive benefits at the same percentages as widows and widowers), as long as the marriage lasted at least 10 years. That changes if the surviving spouse remarries before age […]
It may seem logical that if you never worked — and therefore never paid into Social Security — that you would not be eligible to receive Social Security benefits. Well, that’s not the case. In fact, there are several different scenarios in which a person can receive Social Security benefits without ever having paid into the system, […]
Navigating Social Security can be confusing. If you’re wondering how to apply for Social Security benefits, our Application Checklist breaks down what you need to know, step by step. Application Checklist to Apply for Social Security Benefits #1 Calculate the best age to claim Social Security retirement benefits #2 Pick the right date to […]
In all, it is estimated that 64 million Americans received Social Security benefits in 2019. Not only does the program have a wide reach, it is also extremely meaningful to beneficiaries; over half of elderly recipients rely on Social Security for more than 50% of their total income. It comes as no surprise, then, that […]
If you’re thinking about claiming Social Security benefits early given the current economic climate, you may want to consider your other options before deciding. In fact, there are important factors to weigh as you consider your retirement and when to claim. Your monthly benefit from Social Security can considerably vary depending on what age you choose to start your benefits. […]
Full Retirement Age (or “FRA”) is the age at which you can receive the full retirement benefits owed to you by Social Security. If you take your retirement benefit at FRA, you will receive your full Primary Insurance Amount (or “PIA”). (Your PIA is the amount Social Security owes you if you claim at your Full Retirement Age.) If you […]
You started out by filing for your own Social Security benefits that you earned from your own work and payment into the Social Security system. But now you’re wondering whether you can, instead, switch to a benefit as the spouse (or ex-spouse) of someone who made a lot more money than you did. In short, the answer […]
Divorce is often the subject of questions we receive, and it is the subject of some of the costliest and most common Social Security mistakes. The following is one such example: “I am divorced. Can my ex-wife collect on my Social Security benefit and how will this affect the income that I receive?” In order to […]
We received the following question from a user: If I claim retirement at 65 and am still working, what effect will my earnings have on my Social Security income? This question, from a user whom we will call Fred, is common (increasingly so, as seniors are working at historic rates), but in order to answer it, we […]