Social Security Spousal Benefits: One More Key To Your Social Security Decision

Can a spouse collect on her husband's social security if she reaches retirement age before her husband? No. In order for a wife to collect Social Security benefits on her husband's income several requirements must be met:

1. The spouse applying for the spousal benefit needs to be at least age 62

2. The husband will need to be eligible for benefits, so he should also be at least age 62. In addition, the husband is required to actually apply for Social Security retirement benefits in order for his wife to receive benefits based on his income. The husband can then choose to delay receiving benefits. This strategy is known as "file and suspend".

To provide you with an example, if the wife is 62 and the husband is 60, the wife can begin collecting benefits based on her own income, but she can not receive benefits based on her husband's earnings until he turns 62 and starts receiving his own benefits.

On the other hand, if the wife is 66 and the husband is only 62, then the wife can begin collecting based on her husband's income (remember, the husband will have to apply for benefits before his wife will be able to collect based on his earnings).

In the cases mentioned above, the wife can start receiving benefits calculated on her own earnings as soon as she turns age 62 (assuming she has no less than forty quarters of earnings and qualifies for benefits on her own), then switch to half of her husband's benefit as soon as her husband becomes eligible for Social Security.

A number of areas to take into consideration before applying for benefits:

If a wife applies for her Social Security spousal benefit based on her husband's earnings when she attains full retirement age (age 66 for people retiring now), then she'll receive 50% of her husband's primary insurance amount (PIA). On the other hand, if she starts receiving benefits at age 62, her benefit will only be 35% of her husband's PIA.

It does not help the spouse to apply after her full retirement age, as spousal benefits will not include delayed credits. Furthermore, it does not benefit the wife if the husband waits to apply for benefits because she will not receive any increase in benefits that he gets by waiting to apply.

Where a spouse reaches full retirement age and is qualified to apply for the spousal benefit or her own benefit, she may start collecting the spousal benefit now and delay taking her own benefit in order to build up delayed credits on her own benefit.

An individual can collect Social Security spousal benefits determined by an ex-spouse's earnings so long as you were married for a minimum of 10 years and you are currently unmarried. In case you have more than one ex-spouse that you meet the requirements regarding spousal benefits, you will get the maximum benefit you qualify for. One advantage that divorced spouses have over married spouses is that a divorced spouse won't have to wait for a former husband to start receiving benefits as long as the couple has been divorced for a minimum of 2 yrs when she applies.

Finally, the Social Security retirement system is gender neutral, so while this article has assumed that the wife is the one applying for spousal benefits, if the wife makes more than her husband, the husband can sign up for Social Security benefits based on his wife's earnings.

The Best Way To Ask For Social Security Benefits
Social Security was originally created to provide retirement benefits to workers, but the program has grown tremendously and now Social Security provides disability benefits, death benefits and other family benefits in addition to retirement benefits.

Important Facts About Financial Planners
There are many different types of financial planners. Not only are financial advisors compensated differently, but the services they provide vary quite a bit as well. Here is a quick summary of the different types of financial advisors and how they can help you.

Three Ways A Financial Planner Can Easily Help You Reach Your Very Own Financial Objectives
Many people wonder exactly what a financial planner does, and how they can help you. Here are just three ways a financial planner can help you achieve your financial dreams and goals.

Social Security Income: Ideas To Help You Maximize Your Social Security Benefits
As you get closer to retirement, choosing when to take your Social Security may seem like rolling the dice. There are so many decisions to make, such as:

Retirement Savings Become Much More Crucial As Pensions Become Extinct And Social Security Changes.
Retirement income is often referred to as the three-legged stool because traditionally retirement income has come from three sources: pensions, Social Security and your own savings. Well, the three-legged stool is looking pretty lopsided for many people these days as pensions become extinct and Social Security changes take place.

How Are Social Security Benefits Calculated? Several Facts & Issues Having Effect On The Benefits
One of the most popular Social Security questions that I hear from baby boomers getting ready to retire is "how are Social Security benefits calculated?" This is an important question because it could affect how long you need to work, whether you should continue to work during your retirement years

Learn How To Apply For Social Security
If you areapproaching retirement, you are probably already looking into how to apply for Social Security benefits. Generally, you can apply once you are within 120 days of your 62nd birthday. There are several things you should know to make the application process as smooth as possible.

About Social Security Disability: What You Need To Understand Prior To Filing For Handicap Benefits
Most people think of retirement when they hear Social Security, however Social Security provides benefits to people who are disabled as well. The list of requirements that must be met for Social Security disability benefits is pretty long, and many people don't meet those requirements.

Social Security Benefits: Several Important Details On Cost Of Living Adjustment
For the second year in a row people who rely on Social Security will not be receiving a cost of living increase. This is only the second time since the cost of living adjustment (COLA) was adopted that recipients have not received an increase.

Making Use Of Government Grants In Order To Upgrade And Improve Your Own Property.
Being on the property ladder whether renting or owning your own home it can be a very expensive ordeal.

Gold Coin Prices Guide Can Provide Amazing Information To Invest At Best Time
Coin collecting, there are tools that you'll need to acquire to make your numismatic experience both fun and rewarding. The most valuable tool that you can get your hands on is an up-to-date gold coin price guide. Inside you will find great information to help you enjoy your new hobby