Social Security Rules You May Not Know


Hi Reader,

Social Security rules can look straightforward until survivor benefits, retirement ages, taxes, and your personal history start overlapping.

Understanding where these rules came from can help you recognize which details deserve a closer look before you file.

"Her 66 and six months was full retirement age for survivor benefits, but she was born in 1959, so full retirement age for her own benefit is 66 and 10 months. So there are two different full retirement ages for some people."

ERIC BLAKE

Social Security Rules Women May Not Know: Survivor Benefits, Retirement Age & Taxes

In this episode, I look back at how Social Security has changed and why that history still affects women making retirement decisions today.

I explain why some people have two different full retirement ages, how survivor and divorced-spouse benefits developed, and how rules around remarriage have changed.

I also cover Social Security taxation, cost-of-living adjustments, and several numbers that haven't kept pace with inflation.

Meg Discusses:

  • Why retirement and survivor benefits can have different full retirement ages for the same person
  • How survivor benefits developed and why a spouse's filing age can affect the surviving spouse
  • Why a 10-year marriage remains an important threshold when considering benefits from an ex-spouse
  • How Social Security taxation thresholds have remained unchanged even as incomes and costs have risen
  • Why understanding today's Social Security rules can help women make more informed retirement decisions
  • And more!

You can catch every episode of The Simply Retirement Podcast on the website - or on your favorite podcast app.

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The Simply Retirement Toolbox

👉 Will My Social Security Benefits Be Reduced?​

Claiming Social Security benefits can be one of the more complicated topics that you will address in retirement. Many rules can significantly and permanently affect your future income and overall financial picture.

To help make this analysis easier, we have created the “Will My Social Security Benefits Be Reduced?” flowchart. It is based on the Social Security Administration’s guide, “Retirement Benefits,” and addresses common issues including:

  • How to determine Full Retirement Age (FRA)
  • Effects of marriage and divorce
  • Implications of collecting benefits before, at, or after FRA
  • Annual limits
  • Impact of continuing to work while claiming benefits
  • How benefits will be taxed

Have more questions about retirement planning? Just hit reply to this email. I read and respond to every message. 😃

Keeping Retirement Simple,

Eric Blake, CFP®

Retirement Is More Than Just a Math Problem.

Learn how our 3-step process can help you successfully navigate this decades-long transition—without overpaying the IRS!

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