Marriage and Divorce Will Impact Your Social Security Benefits

Many people depend on their Social Security benefits during their retirement years. Although it may not be all their income during that time, it may be the bulk of it. Getting as much as possible—or all you are entitled to—is important, whether you are married, divorced, or single.

People who are married can get considerably more than those who are single or divorced and not remarried. With either event, getting married or divorced can significantly change your Social Security benefits, which can impact your comfort level in retirement.

Social Security Benefits for Married People

Married couples can enjoy drawing on their Social Security benefits if they are over 62. If they wait until 70 to get their benefits, the larger the benefits become. When both spouses get benefits, their combined benefits will make it much more comfortable in retirement than having only one for income.

A Change in Married Couples Benefits

Married couples used to be able to switch between their spouse’s benefits and their own. They could each claim the spousal benefit from their spouse and then wait until they turned 70 to claim their own. Doing so would enable them to get more benefits. Finance.Yahoo reports this option is no longer available unless you turn 70 before Jan. 1, 2024.

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