As retirement age approaches for many couples, they will find themselves asking who should retire first and what benefits will they get access to? Have you had that discussion with your spouse? What options are available for those who are divorced? Many people are completely unaware that they can collect Social Security benefits from their spouse even if they are divorced! If you are planning on getting a head start on your retirement strategy - you’ve come to the right place! On this episode, you’ll hear as I explain how investors like you can make the best decision when it comes to accessing your Social Security benefits and so much more. 

You will want to hear this episode if you are interested in...

• Social Security options when you are divorced. [0:55] 
• Eligibility requirements [2:20] 
• Getting the most from Social Security [7:00] 
• Collecting your spousal benefits early [9:30] 
• Helpful examples [13:00] 
• Closing thoughts [15:00] 

Options for those who are divorced 

If you are currently divorced and you are getting to the point where you are thinking about Social Security and you are approaching retirement, you have two options. 

1. Collect Social Security benefits off of your own benefit.
2. Collect Social Security benefits off of your divorced spouse. 

Your spousal benefit off of your divorced spouse is up to a maximum of 50% if you wait to collect this benefit when you reach your own full retirement age. Your full retirement age is based on your year of birth. If you are born in 1954 or earlier, your full retirement age is 66. 

Eligibility requirements

Who qualifies for spousal benefits through Social Security? Can you collect benefits from a former spouse from a marriage that lasted for a small amount of time like a year? To help men and women like you make the most informed decisions about your retirement, I’ve collected some helpful information regarding eligibility requirements. 

• The marriage lasted 10 years or longer.
• The ex-spouse is unmarried.
• The ex-spouse is age 62 or older.
• The benefit that your ex-spouse is entitled to receive based on their own work is less than the benefit they would receive based on your work.
• You are entitled to Social Security retirement or disability benefits.

To hear me expand on this critical topic and how it can impact your planning as you head into retirement, make sure to tune into this episode, you don’t want to miss it!

Resources Mentioned on This Episode

• Collect Social Security Now or Wait? Ep #4

Connect With Morrissey Wealth Management 

www.MorrisseyWealthManagement.com/contact