Social Security Questions You Need to Know
Joel Johnson, CFP® answers questions and talks about Social Security on this weekend’s segment of Better Money Boston on WCVB5.
A few important things to note are:
- Social Security amounts adjust each year. This year, for instance, there was a big jump due to inflation.
- Your benefits may be reduced if you continue to work and collect monthly checks before full retirement age.
- Treat your S.S. like an account rather than a stream of payments.
Social Security and Marriage
If a spouse passes away, you cannot collect both your own and your spouse’s Social Security.
You may be able to claim benefits on your ex-spouse’s Social Security if you were married for at least 10 years before your divorce or their death, are over the age of 62, and are not remarried. This could greatly increase your benefits if your ex-spouse’s benefit is much higher than your own.
Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.
Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.
Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.
The guarantees provided by any type of insurance contract are based on the claims-paying ability of the insurance company.
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