Social Security Spousal Benefits
If you are/were married, you are eligible for spousal benefits? What are spousal benefits and how do they work? It can get complex but let me give you two common scenarios.
Scenario A:
You were a stay-at-home spouse, and your spouse worked.
While you certainly had a hefty job, you didn’t make any income. Therefore, you could apply for spousal benefits and receive a portion of your spouse’s Social Security (they would get their full benefits as well.)
Scenario B:
You and your spouse both worked. But perhaps your spouse had a higher paying job, or maybe you only worked part-time.
You would then apply for BOTH your Social Security as well as your spousal and then you will receive whichever is higher.
It seems pretty simple, but the truth of the matter is that nothing is straightforward when it comes to the government and money. The best way to figure out how to maximize your Social Security benefits is to speak to a professional. Give us a call, we can help you out.
The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.
