Important Social Security Decisions for Married Couples

3.27.24: Audio automatically transcribed by Sonix

3.27.24: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
Do you need help understanding Social Security, especially when it comes to spousal benefits? You're not alone. I'm Matt McClure with the Retirement Radio Network, powered by Amira Life. Navigating Social Security can be confusing enough for one person as a couple. There are even more rules and regulations to remember. Here are some of the most important to help clear the fog. First of all, you can qualify for Social Security benefits as a spouse without any work history of your own. As long as you're married to someone who does qualify based on at least ten years in the workforce. Sylvia Gordon, also known as Medicare Mama, says the amount you'll receive will vary.

Speaker2:
The most you can get from your spouse's Social Security is 50%. Most people get less than that because they draw early.

Speaker1:
And she says you'll get the maximum benefit at your full retirement age. That's somewhere between 66 and 67.

Speaker2:
So your husband drew early and you're like, okay, I'm going to draw early, too. I want to draw at 62 two. Am I going to get 50% of my husband's? No. To get 50%, you have to wait till you are at your full retirement age.

Speaker1:
If you're drawing spousal benefits, you could get a big bump in your monthly payments. If your spouse passes away before you do. That's because when one of you dies, one of the Social Security checks will go away each month, but the larger of the two payments will go to the surviving spouse. Do you have a plan for Social Security during your golden years? It's a key question to consider so you can get the most out of your retirement with the Retirement Radio Network powered by Amira life. I'm Matt McClure.

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