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8 Ways Your Marital Status Affects Your Social Security Benefits

By Katie Brockman - Dec 17, 2020 at 9:00AM
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8 Ways Your Marital Status Affects Your Social Security Benefits

Social Security benefits can be a lifeline in retirement

Social Security benefits make up approximately one-third of retirees’ income, according to the Social Security Administration. That means it’s crucial to make the most of your monthly payments in retirement. Your marital status could affect how much you receive in benefits, and by understanding this component of Social Security, you can maximize your checks.

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If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

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1. You could be entitled to spousal benefits

If you’re married to someone who is eligible to receive retirement benefits, you could qualify for spousal benefits based on his or her work record. The maximum amount you can collect in spousal benefits is 50% of the amount your spouse is entitled to receive at his or her full retirement age. If you’re entitled to benefits based on your work record, you’ll receive either your benefit amount or spousal benefits -- whichever amount is higher.

ALSO READ: 3 Social Security Moves to Make Before the End of 2020

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2. Your claiming strategy could affect your retirement

If you and your spouse are both entitled to Social Security benefits, it’s a good idea to have a strategy for when you both claim. For example, you may decide that the lower-earning spouse should claim early so that the two of you have some extra cash earlier in retirement. Then the higher-earning spouse could delay benefits to earn higher monthly payments. Or if you expect money to be tight in retirement, you may both choose to delay benefits to collect as much as possible from Social Security. By being strategic about when you claim, you can make the most of your and your spouse’s benefits.

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3. You could be entitled to divorce benefits

Divorce benefits are similar to spousal benefits, except you’d be claiming based on an ex-spouse’s work record. To be eligible for divorce benefits, you and your ex-spouse must have been married for at least 10 years, and you cannot currently be married. Like with spousal benefits, the maximum amount you can receive is 50% of what your ex-spouse is eligible to collect at his or her full retirement age.

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4. Your ex-spouse could be entitled to benefits

You’re typically only eligible for divorce benefits if you’re the lower earner between the two of you. So if you’re entitled to more money in benefits than your ex-spouse, you won’t qualify for divorce benefits. However, even if your ex-spouse does collect divorce benefits based on your work record, it won’t affect your benefit amount. In other words, regardless of who else may be claiming Social Security on your record -- whether it’s your current spouse or ex-spouse -- your benefit amount will stay the same.

ALSO READ: 3 Social Security Changes That Could Affect You in 2021

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5. You might be entitled to survivors benefits

If a loved one passes away, you may be entitled to survivors benefits. While survivors benefits are most often available to widows and widowers, other family members including children and parents are sometimes eligible to collect these benefits as well.

The $16,728 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

Previous

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Older man sitting in the kitchen and looking at a laptop

6. Your widow(er) may be entitled to benefits

It’s a good idea to consider your life expectancy when claiming benefits, because it could help one of you collect more money if the other passes away first. Generally, widows and widowers are able to collect the deceased spouse’s entire benefit amount in survivors benefits, as long as they’ve reached their full retirement age. So if you have reason to believe your spouse may outlive you, it’s a good idea to consider delaying benefits to earn larger checks. Then if you end up passing away before your spouse, he or she can start receiving higher monthly payments.

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Social Security card with document and calculator.

7. You may switch to a different benefit amount later in life

Even once you start collecting benefits, you don’t necessarily have to stick with that benefit amount for the rest of your life. For example, if you start receiving benefits based on your own work record but then get married, you may switch to spousal benefits if you could be collecting more. Or if your spouse passes away and you’re entitled to more money in survivors benefits than you’re currently receiving, the Social Security Administration will pay you the higher amount.

ALSO READ: Should You Claim Social Security in 2021? Ask Yourself These 3 Questions First

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8. If you’ve never been married

If you’ve never been married, you don’t have as many benefit options. You won’t be eligible for spousal benefits or divorce benefits, but you could qualify for survivors benefits if you’re financially dependent on someone who passes away. Generally, though, if you have never been married, you’ll only qualify for benefits based on your own work record.

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Your marital status can significantly affect your benefit amount

Whether you’re married, divorced, or are a widow(er), your marital status can affect your monthly Social Security payment. By determining what types of benefits you may be entitled to and taking advantage of them, you can increase your benefit amount and enjoy retirement more comfortably.

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