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To Love, Honor and Collect: You, Your Spouse and Social Security
May 13, 2014 at 19:00 PM EDT
As if you really needed another reason to thank your spouse, here it is: When it comes to Social Security, your beloved’s benefits could have a meaningful impact on your lifetime “take home pay.” But you need to play your cards right, and that can be easier said than done. For one, there’s an awful lot to know. Spousal benefits are a powerful (but not necessarily well understood) component of the Social Security program. And secondly, there’s no one-size-fits-all strategy for making the most of your joint benefits. Your decision will depend on the benefits eligibility, age and health of both you and your spouse. It also should take into account your other sources of retirement income (e.g., IRA, 401(k) or other savings). Today, I’ll highlight some key points and provide a few hypothetical examples that hopefully will offer some food for thought. Know This (at a Minimum) No matter […] Click here to read the original article on ETFdb.com. Related Posts: No Related Posts
As if you really needed another reason to thank your spouse, here it is: When it comes to Social Security, your beloved’s benefits could have a meaningful impact on your lifetime “take home pay.” But you need to play your cards right, and that can be easier said than done. For one, there’s an awful lot to know. Spousal benefits are a powerful (but not necessarily well understood) component of the Social Security program. And secondly, there’s no one-size-fits-all strategy for making the most of your joint benefits. Your decision will depend on the benefits eligibility, age and health of both you and your spouse. It also should take into account your other sources of retirement income (e.g., IRA, 401(k) or other savings). Today, I’ll highlight some key points and provide a few hypothetical examples that hopefully will offer some food for thought. Know This (at a Minimum) No matter […]
