Social Security
When is it wise to consider the Social Security spousal benefit and when is it not?
When is it wise to consider the Social Security spousal benefit and when is it not?
Based on the new Social Security legislation anyone under age 62 at the end of 2015 has seen their Social Security spousal benefit (receive a benefit off their spouses benefit) greatly reduced if not eliminated as an option, but not all.
The Social Security spousal benefit is still an important option for those who have a small benefit or no benefit based on their past work history. This is so because that person’s benefit would be smaller than the spousal benefit. Basically, it comes down to what benefit is bigger and then you take that one.
It is wise to wait until your FRA (65, 66, or 67 based on birth date) to avoid a much smaller benefit when possible. You can learn more on this issue by reading my book, Graduation! It pays to become informed on the issue. Believe in that and believe in YOU.