This gentleman knows his numbers regarding the complexity of Social Security.

I just knew I was eligible for something until you laid down the rules😅 This was thoroughly and nicely done. Great video.

Thank you for sharing. It’s so beneficial I appreciate all the information you give us.

Excellent orator. Nice paced presentation in order to grasp this technical information.

Very informative, thank you.

I hope this is helpful in plain English to someone. I spoke with one of the Social Security agents today and was told that I cannot get spousal benefits because my own are higher than what 50% of his would be. My spouse and I are both 68. He retired 3 years ago and is getting his Social Security (roughly $3000 a month.) I still work full-time trying to get my own benefits higher. From so many videos I've watched I had gotten the impression that I COULD take spousal benefits (50%) while working so I could continue growing my own and then switch to my SS when I hit age 70. Nope. They will look at what you have so far and what 50% of the spouse's would be and you have to take the larger amount. You COULD take the spouse's full amount after they DIE if theirs is still higher than yours......or so it was explained to me today. I'm just never sure if you can trust a government employee to actually know.

@user-ir8dd5nk9k

Ай бұрын

I to was given the same answer does not make any sense to me. My Ex was retired from the military and earned more then myself yet told by SSA I have higher earnings then Ex so therefore I do not quality to collect spousal benefits.

Thanks for the explanation

Great information thanks a million !!!

Great information.

Very informative!!!

Nice video. Here’s an interesting thing: If you are eligible for both survivor benefits and your own benefits, but you have not started receiving either, then you can take survivor benefits even if your own would be higher, and delay switching to your own, say to age 70, in order to maximize your own benefit amount.

@FinancialFastLane

8 күн бұрын

Yes, true.

Do you have a video for this? Spouse and I will turn 62 within 6 months. We both planned to keep working and hold off on SSI. That changed earlier this year when I qualified for SSDI and don't expect to make it to 62. Question now is what my spouse should do?

I have a good question for you. If my dad died in 1993 and my mom claimed survivor benefits which she got till we all turned of age then they stopped the payments. Now my mom is turning 62 next year. Can she claim survivor benefits again? If she can she could take his now at lower amount and when she turns 67 she can switch to her full benefits? Thanks.

Do you have a video on Roth accounts? If so can you post a link. I need a refresher course on Roth's. I've been trying to watch as much of your video's as I can. Thanks for everything you are doing here. Greatly appreciated.

@FinancialFastLane

8 ай бұрын

Yes, several. Here are a few: kzread.info/dash/bejne/kY2Ww5ZrlLTOqrw.html kzread.info/dash/bejne/ZGimz7t6ZrjWisY.html kzread.info/dash/bejne/a22lqMuulZm5kc4.html

MERCI MONSIEUR

My wife did not take benefits when I started in 2021 thinking she could wait to 70 to get increased benefits in five years moreover, will she lose any back pay or get a lump sum? Additional should she pass before starting benefits what happens to uncollected benefits earned? Thank you for you service your video has opened my eyes

How much would a spouse get at 60 on survivor benefits if the other spouse hadn’t started to collect yet but was say 63 when they died

Discuss how much survivors spousal benefit is.

First time I went to SS. Office i must have been false info. I went back 5 months later & it jumped 600 bucks.

Is the spouses benefit affected if the primary insured takes SS at 62? Is the spousal benefit still 50% of the PIA FRE benefit?

is common-law considered the same as being married ?

Hello. My question to you, can my wife still collect her SSI and I'm going to be collecting my SSA, Retirement in between March and April. This will be my first payment. Will my SSA retirement effect her SSI. That's Supplemental Security Income. She's 77 and I'm 62!

Can you draw if he is alive or is there a limit to how much I get from Social security If I can collect or not. I have been refuse twice, because if they give me his I would be making to much.! Thanks

👍

I was told by Ssdi I was not eligible to quality for spousal benefits. Been married to my Ex over 10 years . I now collect full reirement benefits and still not eligible.

@anntrope491

Ай бұрын

Do you have to be 67 to access this spousal benefit ?

Very informative video, thank you. At around 2:59 one of the facts you listed on the screen reads "Is at least 62 (or any age if caring for worker's minor or disabled child" Does this mean that if someone who is at full retirement age get's married to a much younger woman; let's say 25 for sake of the question; and has a child with her, that she will also be eligible like the minor child is, to collect 50 % of the older husbands SS benefits? or do they have to split that 50% between the mother and child for 18 years?

@FinancialFastLane

6 ай бұрын

Yes, there are child benefits and mother benefits.

@freedomwillring6749

6 ай бұрын

@@FinancialFastLane Thank you for your quick response, informative video, and answer to my question.

Hey Lane! I am about get spousal benefits. My question is this, because I am going PT , I won’t be eligible for the health insurance any longer. Is it mandatory to have health insurance anymore? And what is the lowest amount I would pay for Obama insurance?

@FinancialFastLane

7 ай бұрын

To make sure your questions are answered fully I would invite you to go to this website and setup an appointment www.martinsenwealth.com/medicare-partnership/

Great video. I have a question. Say a worker and spouse decide to start social security at the same time. You stated that the worker would have to be drawing Social Security in order for the spouse to receive spousal benefits. In this example, would the spouse receive the spousal benefit for the start month, or would it start on the second month?

@FinancialFastLane

8 күн бұрын

As long as the spouse is over age 62 then yes.

Good morning Sir! May I ask/know if our 2 minor child's they're qualified because my husband is a Veterans since 1964 to 1970 in service Vietnam war USNavy. 6 years(contibution) credit SSA. My husband pass away last 2021. Thank you and God bless you always!

So what if you’ve been married and divorced twice before age 60, and you were married to each of them more than 10 years? Is it true you get to pick which spouse you collect a spousal benefit from?

@rajbeekie7124

9 ай бұрын

They all collect SS for the 1 spouse if married 10 or more years. Benefits are not reduced in any way.

So my wife's social security benefit will be much lower than mine. So she can't get the spousal benefits until I start taking mine? This was a great video.

@FinancialFastLane

3 ай бұрын

That is correct. Thank you!

Can you claim survivor benefits at 60 and then at full retirement age of 67 switch to your own benefits?

@eljoyservices6684

5 ай бұрын

Yes but everyone situation is different make sure that you meet with a SS worker.Because you may need to wait 70.

What if the worker has an ex spouse and a current spouse. How many spousal benefits can be collected. 😅

What about two spouses who have both paid into SS and will have very similar payout amounts (so dual with similar career earnings). What happens with benefits if one passes away for the surviving spouse? We are trying to figure out when to take benefits and that needs to be part of our understanding.

@FinancialFastLane

4 ай бұрын

The smaller of the two benefits goes away at the death of one spouse and the larger of the two benefits continues.

If the worker has been collecting benefits for 6 years and spouse is ready to apply ... is the PIA the amount when the worker started collecting or is COLA added to that amount?

@FinancialFastLane

2 ай бұрын

COLA is included

I retired and started taking my social security at age 63. I now have reached my full retirement age and would like to know if my spouse would get 50% of what my social security is at full retirement age or the amount when I retired.

@FinancialFastLane

9 ай бұрын

When you starting benefits at 63 you accepted a permenently reduced benefit. That reduction also impacts the spousal benefit, it too will be reduced. Also, the starting age of the spouse is a factor as well.

@johndaltroff2241

6 ай бұрын

I asked ss this same question, I'm the higher earner and started ss at 64, my spouse is 62, if she waits till full retirement age of 67 she will get 50% of what I would have received at my full retirement age of 66 and 10 months. This is what I was told. I wish I could verify this better. I still can stop ss because it's been less than a year.

Have you addressed, when a person is divorced and they're entitled to their spousal benefits? Please let me know the link. I dont have the Marriage Certificate any longer. But I would have some court orders. Please address all that's required from social security to prove a person would receive spousal benefits. I'm aware it's 50%. However, I was told that you could start taking their social security, and let your own build it up and then you could switch later.. I've also read that you can't call up. Social security because the people, they are do not know a lot.. Meaning they're not a reliable resource. Please, please advise.

@DebbieKing-bj3bf

9 ай бұрын

@clikonicontowtsap I am not clear what that means

Am I eligible for survivor benefits from my late husband of 18 years (he had his full 40 credits) I remarried at age 52 after my first husbands death but have subsequently divorced my second husband? I turn 60 this July and am unmarried. Reading the rules on survivor benefits they use the term “currently unmarried” Thanks

@FinancialFastLane

5 ай бұрын

The fact that you are currently unmarried should generally make you eligible for survivor benefits regadless of your 2nd marraige and divorce.

I've watched this video and last night went to a free course on social security and I'm afraid I'm still confused by this spousal benefit thing. My question really is: can you claim your own benefit AS WELL AS a spousal benefit? Or is it one or the other?

@FinancialFastLane

8 ай бұрын

Basically, it’s one or the other, however, if your own benefit is less than 50% of the spousal benefit, then the lower benefit becomes a combination of the two that brings it up to the 50%.

@helena20000

5 ай бұрын

@@FinancialFastLane Hi 'Financial Fast Lane' & Thank You So Very Much For Your Very Helpful Information, question please Sir = In An Over 10 Year Marriage -- yet 1 spouse filed for divorce (in the middle of that same marriage) but both spouses didn't go thru with that filed divorce/the divorce paperwork was completely 'pulled' after a couple of months & then that same marriage resumed Yet years later both those same spouses/that same couple filed for a new divorce and this time the divorce went thru/was finalized, thus regarding Social Security Spousal Benefits, would those same spouses/that former married couple still qualify to draw on each other's Social Security at 'the qualified' Social Security retirement ages? We were made to understand "Yes", but We wanted to double-check with You also : Thank You In Advance 'Financial Fast Lane'

In regards to survivor benefits. Is there any cap if the deceased spouse waited beyond full retirement age (67) like there is with the spousal benefit? I'd like to maximize the survivor benefit potential for my spouse.

@FinancialFastLane

9 ай бұрын

That was a point I should’ve included. Yes the survivor benefit does earn delayed retirement credits!

I plan to take my benefits at 62 and continue to work part time. My husband still earns a good income and will not take his until later. If I choose to take half of my husbands, will I be able to do so when he takes his if I begin at 62? Thank you very much.

@FinancialFastLane

9 ай бұрын

You can start your own benefit if you qualify. If your benefit is less than 50% of your husbands, then you will get the increase up to 50% after he starts his benefits.

@joannepigliavento7930

9 ай бұрын

@@FinancialFastLane Thank you very much!

I wonder if I can collect my benefits at 64-65… then apply for my partners 50 0/0 spousal at 67 ?

My spouse is the same age as me - 62. She has earned money to qualify for SS payments, but it is much lower than my payment. I plan to take my SS at age 67. Can she take her SS at 62, and then switch to the higher spousal benefit payment, (50% of mine), when we turn 67 and i claim? Or once she takes it, she is stuck with the lower payment?

@thekkm123

5 ай бұрын

To try to ask in a more clear fashion: Both Spouses are currently 62. One spouse earns much more that the other. FRA Spouse 1 - $3000 - plans to collect SS at age 67. FRA Spouse 2 - $500 - here is the question..... --> Can Spouse 2 - collect their own SS at age 62, (about $350 at age 62), and then start collecting the full Spousal Top Off to get to $1500 at age 67?

How much does the survivor get. Full benefit or 1/2.

@FinancialFastLane

25 күн бұрын

Full benefit

Hello I am married to a Filipino woman and I live in the Philippines how can my wife received my benefits when I dead thank you

My wife stayed home and ran the family, so she does not have the SS work credits needed to claim on her own; she is 2 1/2 years older than me. So if I retire at 67 years (FRA), will she have to wait until she is 69 1/2 to receive 50% of my FRA?? Thank you in advance.

@jacquelinem2873

4 ай бұрын

She won’t get any benefits until you retire, since she has no SS own her own record

@davila0893

4 ай бұрын

@@jacquelinem2873 Thank you.

If a home maker spouse taking 50% of her husband’s social security benefit at 65 for reduced amount (full benefit age is 67). When her husband passes away in later years, can she then switch to higher spousal survivor benefit to 100%? Or she can only collect the same amount which she’s taken at 65? Thank you.

@FinancialFastLane

3 ай бұрын

She would get/switch to the larger survivors benefits.

@nrapp600

3 ай бұрын

Thank you for quick response!

What if my spouses benefit is higher than what she would receive under the spousal benefit ? Would she just claim her own benefit and I claim my own benefit?

@kimhelms3669

4 ай бұрын

Yes

My ex-husband is younger than me. I'm 65, he is 57...so I have to wait till he gets 62, minimum to get some benefit

let me ask a ? ....I am US citizen with 40 credits living in Canada since 1998 and married my canadian wife in 1999...we are both 68 ...she is Canadian citizen never worked in US or payed into social security so she has no ss number...I am getting ready to apply for my SS benefits....is she eligible for spousal and survivor benefits even without a SS number and if so how do we apply

@FinancialFastLane

5 ай бұрын

When you start your benefits your spouse should be able to start a spousal benefit even though she is not a US citizen. If she meets the age requirement, she can apply for spousal benefits by contacting the nearest U.S. Social Security Administration (SSA) office or the U.S. embassy or consulate in Canada. She will need to provide documentation to prove her identity, age, and marriage to you.

Can I make spousal ira contribution for my 63 year old spouse who is drawing social security.

@FinancialFastLane

8 ай бұрын

Yes, as long as one of you has earned income. Social Security money cannot be used for IRA contributions but if you are working, then you can contribute for yourself or for your spouse.

Here's a twist to this. What would happen if the spouse is getting disability and the other spouse starts to collect on the social security for him or herself. What will happen to the disability amount? Would the spousal benefit be eliminated?

@FinancialFastLane

3 ай бұрын

No it would not. Working is based on the individual not household income.

What if we married out of USA? It’s valid for the Social Security? In order to follow the spouse benefits Thanks

@FinancialFastLane

24 күн бұрын

It depends on which specific country you got married. Some countries will not qualify. Also, it depends on if you are both US citizen's or not. A non-US citizen must have lived in the USA for at least 5 years.

@elrivera13

24 күн бұрын

@@FinancialFastLane both Mexico Americans citizens Married at Mexico more than 20 years ago And living at USA 15 years ago It works this way ? Thanks 🙏

@FinancialFastLane

24 күн бұрын

@@elrivera13 It sounds like it may work but you should call the SSA.gov and ask them to confirm eligibility.

My wife is receiving social security disability benefit. My question is by the time I claim my benefit at 67 will she be entitled to half of my benefit plus her benefit?

@FinancialFastLane

8 ай бұрын

No, When your wife reaches FRA her disability benefit switches to retirement beneft. You don't get both.

@rachid8614

2 ай бұрын

I am eligible for early ssa benefits, also my wife has pension and ssa, would I benefit from my ssa and half of my wife ssa and pension?

I will be 62 soon. My wife is 69 and has not enough credit to SS benefit. Will she 50% of my benefit or less since I retired early? Thank. Pls respond as I never found the answer in other videos.

@FinancialFastLane

8 ай бұрын

Your wife is eligible to receive 50% of your benefit but if she starts it now at age 62 her spousal benefit will be reduced from 50% but she will get a benefit yes.

@lowcarbhigh7428

8 ай бұрын

Clarification: I will apply for SS benefit at age 62. My wife is already 69. Once I get my benefit. Will my wife receive 50% of my reduced benefit or less than 50% since I applied early?

@ronedwards5413

14 күн бұрын

Please tell me.... I need to know. My husband been on ssdi. He turns 65 in July It turns to retirement? What can I do? I only get SSI and we been married 6 years.

What if both of us retire and collect at 62? I am 3 years older. I collect $1800 now. My wife will be 62 next year and be able to collect $800 from her part time working all her life. Will she be able to collect spousal benifits from me when she retires at 62? Or does she have to wait until she or i am 67? No one can answer this question?

@FinancialFastLane

4 ай бұрын

Anyone eligible for benefits can start those benefits at age 62 if they want. There is no requirement to wait. This video will help you understand better how it works kzread.info/dash/bejne/mmeWp6iacbrHh9o.htmlsi=a0CkeTme92WdGVkm

@skydancerforever

4 ай бұрын

@@FinancialFastLane Thanks but thats not what i am asking. i do know all that and i did see that video awhile ago. Both of us are taking our SS at 62. Thats a done deal. My question is on spousal benifits. Can my wife apply and receive spousal benefits and receive it before we get to age 67? We are both receiving SS at 62. Mine is $1800 a month, her's is $800 a month. Will it raise her SS payments now before we are 67?

@FinancialFastLane

4 ай бұрын

@@skydancerforever Thanks for the clarification. The spousal benefit is up to 50% of your benefit, so based on your numbers 50% of $1800 is $900. If your wife's own benefit from her earnings record is $800 then the spousal benefit will be $100, increasing your wife's benefit up to the 50% number ($900). That is how it works. For example, she cannot start a spousal benefit only at first and then take her own benefit later.. They are connectred. The max she will ever get is up to 50% of your benefit unless she was to work longer and incresae her own benefit. Hope that answers your question.

If your spouse is 10 years younger than you and you reach age 62, you’ve been married 12 years does your spouse get 50% once they reach age 62?

@FinancialFastLane

3 ай бұрын

The spousal benefit would be 50% at the spouses full retirement age. At 62 is would be a reduced amount.

hi How long do you have to be married?

@Suki0428

4 ай бұрын

He said 10 years

@ronedwards5413

14 күн бұрын

The drawing said one year

If my spouse waits until she is 70 to retire do I get 50% of that amount?

@utrinqueparatusman

9 ай бұрын

I found the answer from one of your other videos. Thanks

My husband died last sept 2023, we were together and married for 9 yrs and 7 months and im 54 yrs old. No child, do i can get spousal benefit?

@FinancialFastLane

15 күн бұрын

You are eligible to receive the "Survivors" benefit unless you get remarried before age 60. The Survivors benefit is different than the spousal benefit. The Survivors benefit is equal to his full benefit.

I thought that the spouse got the other spouses amount at full retirement age which ever was greater

@FinancialFastLane

7 ай бұрын

No, you are confusing the survivors benefit with the spousal benefit, they are two different things.

If I am 70 and have claimed SS for one year or so, then I die. What kind of benefit does my wife get and at what age will she get the benefit.

@FinancialFastLane

6 күн бұрын

Your wife will recieve your larger benefit. She needs to be at least 60 years old before she would be eligible to receive the survivors benefit.

Ok I worked all my life I'm still working I'm 55 years old I got divorced 13 years ago since then I re married So when I die who get the benefit the ex wife or the new wife?

@FinancialFastLane

8 ай бұрын

Potentially both, It depends on if your exspouse remarries or not.

@quinterod1000

8 ай бұрын

@@FinancialFastLane the ex has not remarried

@FinancialFastLane

8 ай бұрын

@@quinterod1000 If your marriage lasted for more than 10 years and she doesn’t remarry, then she will be eligible for a Spousal benefit and ultimately a survivors benefit. But so will your current wife. The government will pay them both and they can both be eligible for survivors, benefit. Your ex spouse getting benefits from your earnings record does not diminish or hinder your benefits or your wife’s benefits at all.

@quinterod1000

8 ай бұрын

@@FinancialFastLane thank you

hmmmmm - what is PIA? (1.25 mark)

@FinancialFastLane

7 ай бұрын

Primary Insurance Amount (PIA). It’s the benefit amount at full retirement age (FRA).