I am 64, and he is 74.
I make about $5,000 a month right now.
He gets $1,700 in Social Security benefits.
These are thebiggest money secrets rich people don’t tell you.
Can he claim more Social Security benefits from me if we are married?
Will marrying him help me with my Social Security?
I am planning on working until I really cant work anymore.
My job is in health care, so its not easy working.
Right now, I pay the mortgage and a lot of expenses.
-E.
Dear E.,
Boosting your Social Security isnt as simple as walking down the aisle.
I dont think either of you would get moreSocial Securityretirement money from marrying.
The rules surrounding Social Security and marriage can get complicated.
The same rule applies if youre claiming anex-spouses Social Security.
Double dipping isnt allowed.
You dont get to claim your own benefit plus half of a spouses.
(The 50% cap also applies when youre claiming an ex-spouses Social Security benefit.)
But you make $5,000 a month.
You probably didnt just stumble into a job that pays you $60,000 overnight.
Im guessing you have a decent work record of your own.
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But remember: The most he could get is 50% of your benefit.
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Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
But it sounds like youre more concerned about how to increase yourretirement budgetfor the life youve built together.
Unfortunately, there really are no easy ways to increase your Social Security benefits.
Unless you marry someone who drastically outearned you, the solutions are basically: Work longer.
Wait as long as possible.
But working forever and delaying Social Security until age 70 simply isnt an option for a lot of people.
Youre no doubt acutely aware of that fact, especially since you work a difficult job.
It sounds like youre under a lot of pressure between working and shouldering so many expenses.
Ultimately, a lot of decisions surrounding love and marriage are inextricably tied to money.
But it doesnt sound like this is one of them.
Marry him if you think it would make you happier.
But if youre only contemplating marriage because you want more Social Security, dont bother sending out save-the-dates.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
Send your tricky money questions to[email protected].
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