Reported about 1 year ago
Social Security is crucial for many Americans in retirement, with spousal benefits potentially boosting household income significantly. However, there are three rules to consider before claiming spousal benefits. Firstly, both spouses must claim benefits for the lower-earning spouse to access them. Secondly, there are no additional benefits for delaying spousal benefits past full retirement age. Lastly, there are steeper penalties for claiming spousal benefits early, especially without caring for a qualifying child. Understanding these rules can help couples maximize their Social Security income in retirement.
Source: YAHOO