Menu

June 2015 Archives

Baby Boomers Don't Leave Money on the Table. Part 3: Social Security Spousal Benefits

Part 3. Social Security Spousal Benefits.

In retirement planning, an overlooked source of income is the Social Security spousal benefit. During your lifetime, your spouse may collect social security benefits based on your earnings or benefits based on his or her earnings. If your spouse has low earnings or has never worked, the spousal benefit will most likely be higher than his or her own benefit. The same rule applies to you. You may collect spousal benefits based on your spouse's earnings rather than collecting your own benefit. You and your spouse also have the option of collecting spousal benefits and then collecting your own benefits at a later age. Before filing for benefits, both you and your spouse should review the following: 1) the benefits that you are entitled to collect based on your earnings at various ages; 2) the spousal benefits that both of you are entitled to collect, based on the earnings of the other spouse; 3) your plans to continue working before or after full retirement age (currently age 66); and 4) some options for filing, such as "file and suspend", which allows your spouse to start collecting spousal benefits while you continue to work. Analyzing these options will enable you and your spouse to maximize the benefits that both of you can collect.

Contact the Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Roberta A. Schreiber, P.C.
Suite 108
348 Park Street
North Reading, MA 01864-2153

Phone: (978) 664-2552
Fax: (978) 664-9227
Map & Directions

top