If you are currently married or were at one point, then you might still be eligible to apply for Social Security benefits (spousal edition). These benefits are usually based on your spouse’s work record, so they have nothing to do with your employment history.
Social Security spousal benefits are often seen as a major financial support for married spouses, but it’s still important to fully comprehend the eligibility conditions and all timing considerations needed to fully take advantage of this program.
Also, if you’re going through a divorce, there are available funds for that, too! The total amount you might receive from that will be fully established by all kinds of factors, such as age, work history, and marital status. When you apply for Social Security spousal benefits, you should expect:
- to receive as much as 50% of your spouse’s Social Security benefit;
- to apply for benefits if you’ve been married for at least one year;
- If the marriage lasted 10 years or more and you’ve recently divorced, you can still apply.
- to see how early withdrawal of benefits might lead to a reduction in time;
- to receive the best benefit (either yours or your spouse’s), as long as you have a work history.
- to wait for your working spouse to claim those benefits if you want to benefit from them too.
If you want to make the most of your spousal SS benefits, you need to fully understand not only the amount you might need in order to qualify but also how claiming early might have an impact on your monthly payments.