There are several things you should know about Social Security. Here are three about collecting spousal benefits from The Motley Fool to get you started:
- Spousal benefits will allow married individuals to collect benefits based on their partner’s work record. These benefits could be up to half of what their partner collects. Make sure to check your options and consider what is best for you.
- Unfortunately, spousal benefits cannot be provided to an individual until their spouse is also claiming Social Security. Because of this, it is important to keep an open communication and create a filing strategy, The Motley Fool notes.
- Finally, The Motley Fool explains that there is “no point in delaying spousal benefits.” The rules for collecting spousal benefits don’t give any financial incentive to delaying past the full retirement age since the spouse’s benefit cannot grow.
