Are you married, widowed, or divorced? If so, then you may be eligible to receive Social Security Benefits based on your spouse's or former spouse's work history even if you have also earned your own Social Security benefits. But unfortunately, understanding and claiming these benefits can be very complicated. And once you request benefits, the Social Security administration rarely lets you fix a mistake, even if that mistake means you miss out on thousands of dollars of income every year in retirement. So be sure to listen to this entire episode to make sure you have all of the knowledge you need to help to get the most out of your Social Security spousal benefits.

In this episode you will:

·      You’ll discover how to know if you qualify for any spousal benefits

·      If you’re married, you’ll learn how you and your spouse may want to coordinate the claiming of your benefits to maximize your lifetime income

·      If you’re widowed, you’ll discover how widowed spouses have the most favored status when it comes to claiming Social Security benefits and the special strategies you can use to really boost your lifetime benefit amount

·      If you’re divorced, we’ll reveal how to know if you can claim any benefits from your ex-spouse and if so what you need to know to get the most out of those benefits

·      We are also going to reveal some special circumstances that if they apply to you, you need to be especially careful in your claiming strategies because some of the regular rules or strategies won’t apply to you.

·      And you’ll also discover what the late Tonight Show host, Johnny Carson, can teach us about Social Security spousal benefits

The key moments in this episode are:

00:42 – Introduction to Episode Topic: Social Security Spousal Benefits

02:10 - Qualifying for Spousal Benefits

07:07 - Spousal Benefits for Married Couples

11:49 - Delayed Retirement Credits and the File and Suspend Strategy

15:35 - Understanding Spousal Benefits

19:10 - Deciding When to Claim Spousal Benefits

23:05 - Spousal Benefits for Divorced Spouses

28:25 - Spousal Benefits for Widowed Spouses

34:07 - Special Circumstances and Landmines

36:41 - Social Security Mistakes

37:57 - Additional Resources

38:53 - Next Episode Preview

Disclosure:

The views expressed in this podcast are not necessarily the opinions of Phase 3 Advisory Services or Osaic Wealth, Inc. and should not be construed directly or indirectly as an offer to buy or sell any securities or services mentioned herein. Unless otherwise specified, show guests are not securities licensed or affiliated with Phase 3 Advisory Services or Osaic Wealth. 

Investing is subject to risks, including loss of principal invested. Past performance is not a guarantee of future results. No strategy can assure profit nor protect against loss. Please note that individual situations can vary. Therefore, the information should only be relied upon when coordinated with individual professional advice. 

Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Additional investment. and insurance advisory services offered through Phase 3 Advisory Services Limited, a Registered Investment Advisor.

Osaic Wealth is separately owned and other entities and or marketing names, products or services referenced here are independent of Osaic Wealth. Phase 3 Advisory Services is located at 1110 West Lake Cook Road, Suite 265 in Buffalo Grove, Illinois 60089. Our phone number is 847-520-5545. For additional information, visit our website at phase3advisory.com.