Many adults look forward to collecting social security benefits once they retire. The problem comes when your spouse dies and you have to choose between receiving earnings based on your work history or survivor benefits based on your deceased spouse’s work history. You cannot collect both benefits. One strategy is to take the smaller benefit now and let the bigger one grow and switch to it later. To collect survivor’s benefits, you must be at least 60, or at least 50 if disabled, and you must have been married to your deceased spouse for a minimum of nine months before their death. Check the AARP, T. Rowe Price, and the Social Security website for free benefits calculators. For more personalized advice consult a financial advisor.
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