Real Answers for Life’s Money Challenges
I was married 22 years.
The marriage ended in 2002.
When my ex-wife retires, will I be able to collect half of her Social Security?
If so, how do I go about that?
I am 61; she is 62 now.
Also, would she be able to come after half of my Social Security?
How can I prevent the latter?
(I earned less than she did.)
Her benefit has zero impact on your benefit, and vice-versa.
Thats simply not true.
Social Security doesnt have a pot of money set aside for you.
Instead, you pay into the Social Security trust through payroll taxes.
When you become eligible to start collecting, your benefits are calculated based on how much you paid in.
Alternatively, if youre married or divorced, you may qualify forspousal benefits.
Nor would they send half of your check to your ex.
Theyll simply use the former spouses work record if it results in more money for the person whos applying.
Social Security will give you whichever benefit is bigger, but not both.
Theres nothing anyone can do to prevent their ex from claiming their Social Security.
But dont be surprised if you qualify for more Social Security on your own.
Your benefit would be even less than half if you claim Social Security early.
You also cant earn 8% delayed retirement credits each year should you hold out past full retirement age.
Your benefit would cap out at 50% of your exs primary insurance amount.
Fortunately, you dont need to make this into a guessing game.
Youll get whichever benefit is more.
you could also useSocial Securitys online calculatorsto estimate how much youd get from retirement benefits vs. spousal benefits.
It sounds appealing right?
Check it out here!
When its time to apply, Social Security will need to locate your ex-wifes record.
This process will be easier if you still have her Social Security number.
Also be prepared to provide a copy of your marriage certificate and divorce decree.
Focus on getting the maximum benefit for yourself, whether its through your own benefit or your exs.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
Send your tricky money questions to[email protected]or chat with her inThe Penny Hoarder Community.
