Reported 7 months ago
Financial advisor Michele Cagan addresses a reader's question about Social Security spousal benefits. Explaining that all married individuals may be eligible to collect retirement benefits based on their own earnings or their spouse's earnings, she details the nuances of spousal benefits and advises consulting a financial advisor for retirement income planning. To receive a higher spousal benefit, the spouse needs to contact Social Security after the partner claims their benefits, ensuring they maximize their total benefits. Cagan also elucidates the eligibility criteria, calculations, and factors impacting spousal benefits, suggesting couples strategize together to optimize their Social Security income.
Source: YAHOO