Claiming Spousal Social Security Benefits: What Women Need to Know
A Social Security strategy question highlights a key retirement planning move for married and formerly married women.
Here's a retirement move worth knowing cold: Can you claim half of your husband's Social Security now and then flip to your own higher benefit at 70? It's a fair question, and the answer matters a lot for your long-term income.
The core issue is that the old "claim now, switch later" strategy was largely eliminated by Congress back in 2015 under the Bipartisan Budget Act. If you're thinking you can collect a spousal benefit as a placeholder while your own benefit grows, you need to understand the current rules before you make a costly mistake.
Read more Is $1 Million Still Enough to Retire Comfortably in 2024? →
Today, when you file for any Social Security benefit, you're generally deemed to be filing for all benefits you're eligible for at the same time. That means you can't strategically take spousal benefits first and then switch to a larger personal benefit later — the system locks you in. Your actual payout will be whichever benefit is higher, but you don't get to game the timing the way people once did.
That said, there are still legitimate planning strategies on the table. If your husband delays his own claim, his benefit grows — and that could boost the spousal benefit you're eventually entitled to. Divorced women who were married at least 10 years also have specific rules worth understanding. The details are narrow, but they're real.
The takeaway: don't assume old Social Security strategies still work. Run the numbers with a financial planner or use the SSA's own tools before you file anything. One wrong move can cost you thousands over a long retirement. Continue reading at MarketWatch.com
