Do Stay-at-Home Spouses Qualify for Social Security Benefits?

Absolutely! Well, most of the time. It all hinges on the working spouse's benefit. If your working spouse qualifies for their own Social Security benefit, then you, as a stay-at-home spouse, can also qualify for what's known as a spousal benefit.

How Do You Qualify for a Spousal Benefit?

 To qualify for a spousal benefit, you need to meet a few criteria:

1. Marriage Duration: You must be married for at least one year.

2. Spouse's Benefit: Your spouse must be receiving their own Social Security benefit.

3. Age Requirement: You must be at least 62 years old to claim this benefit.

Fun Fact: Eligibility for spousal benefits extends to ex-spouses who meet specific criteria.

That's right! If you were married for at least 10 years and haven't remarried, you're entitled to a spousal benefit from your previous marriage. Who knew your ex could still be useful?

How Much is the Spousal Benefit?

The spousal benefit can be up to 50% of your working spouse's benefit. So, if you wait to claim until your full retirement age, you'll be entitled to 50% of whatever your spouse is earning. For example, if your spouse's benefit is $2000 a month, you can receive up to $1000 a month, bringing the household total to $3000.

This is a fantastic benefit to help support non-working spouses and ensure financial stability in retirement.

Examples are hypothetical and for illustrative purposes only. Actual benefits will vary depending on earnings history and filing age. Social Security rules and benefit amounts are subject to change by legislative action. Consult with a qualified financial advisor for current information. We are not associated with the Social Security Administration. Consult with a Social Security expert.

For more information about our advisory services, fees, and potential conflicts of interest, please request our Form ADV Part 2A brochure by contacting us at ty@twsplanning.com or visiting https://www.thepartnerswm.com/.