dearJulius.com

$type=carousel$sn=0$cols=4$va=0$count=12$host=https://playbuzz.dearjulius.com

This Social Security Mistake Could Cost You Thousands


By Katie Brockman, The Motley Fool

Retirement is more expensive than ever, and if your savings aren't keeping up, you're not alone: The average retirees in the U.S. are expected to outlive their savings by around 10 years, according to a study from the World Economic Forum.

If you run out of cash before the end of retirement, you may have to resort to depending on your Social Security benefits to make ends meet. But there's a lot of confusion surrounding Social Security, and not everyone knows how to maximize monthly benefits. And sometimes, just one mistake could ultimately cost you thousands of dollars.
One factor that can seriously impact your benefits

There are several factors that can affect how much you receive each month, such as the age you begin claiming benefits and how much you earned during your career. But there's one thing that can have a huge impact on your benefits that isn't often mentioned: your marital status.

This can affect how much you receive each month -- and even whether you receive benefits at all. And if you're divorced and decide to remarry later in life, that could end up being a particularly costly mistake financially.

Divorcees may be entitled to collect benefits based on their ex-spouse's work record if they meet a few eligibility requirements. You must have been married at least 10 years, for example, and you have to be at least 62 years old to file for benefits. One other key requirement, though, is that you cannot currently be married in order to receive divorce benefits. 

So that means if you're currently receiving divorce benefits based on your ex-spouse's work record, you'll lose those benefits if you decide to remarry. You could be entitled to collect spousal benefits if your new partner is eligible to receive Social Security, but if you marry someone significantly younger who won't qualify for benefits for several years, you'll be out of luck.

Also, even if you are entitled to receive spousal benefits based on your new spouse's work record, if your current spouse is entitled to less money in benefits than your ex-spouse, your monthly checks may be smaller than if you continue receiving divorce benefits.
What this means for your future benefits

Marriage is always a big decision, but when you're retired and receiving Social Security benefits, it's crucial to think about how this decision affects your finances. If you're receiving divorce benefits and are depending on that money to make ends meet, consider whether you and your new spouse will be able to survive without those checks if you lose them by getting married.

Of course, you'll still be entitled to your benefits based on your own work record regardless of your marital status. But you're typically only qualified to receive divorce or spousal benefits if your own monthly checks are relatively small -- or if you haven't worked enough to receive any benefits at all based on your own work record.

The maximum you can receive in divorce or spousal benefits is 50% of the amount your spouse or ex-spouse is entitled to collect by claiming at that person's full retirement age. If you're receiving more than that amount based on your own work record, you won't qualify for these other types of benefits in the first place.

In other words, the people who will be most affected by this rule are likely the ones who need the money the most. If you're receiving little to nothing each month based on your own work record, you lose your divorce benefits, and you're not eligible for spousal benefits yet, you may be left with no Social Security benefits at all. That could spell disaster if you need that money just to get through retirement, and it also makes it all the more important to double-check how any major life decisions will affect your financial situation.

Social Security benefits can be complex and confusing. But if you're going to depend on them in retirement, having a solid understanding of what types of benefits you're entitled to and the factors that affect them can maximize your monthly checks and avoid costly mistakes.

See more at The Motley Fool

COMMENTS




Made with in NYC
Name

4th of July,7,Abu Dhabi,2,Accessories,234,Acne,13,Adventure,32,Adventure Travel,638,Advice,295,Africa,26,African Food,2,AIDS,1,Air Travel,150,Alabama,5,Alaska,20,Alberta,1,Alcohol,4,All About Beer,1,All About Wine,2,Alternative Treatments,4,America,77,American Food,5,Amsterdam,2,Android,11,Anguilla,3,Animal,367,Animal Health,1,Animals,103,Anniversary,1,Anniversary Cake,11,Antarctica,7,Anti-aging,49,Antigua,3,Appetizers & Snacks,2,Apple,11,Apps,16,Argentina,15,Arizona,19,Arkansas,2,Armenia,1,Asia Travel,47,Asian Food,7,Asthma,4,Athens,3,Austin,8,Australia,92,Australian Food,1,Austria,13,Autism,1,Auto Insurance,1,Auto Show,52,Autos,972,Azerbaijan,1,Baby Shower Cake,29,Back Pain,25,Bags,10,Bahamas,13,Balance Work & Life,50,Banana Cakes,2,Bangladesh,8,Barn Finds,1,Bathroom,43,Be a Better Manager,33,Beach Travel,58,Beaded Dress,2,Beards and Shaving,29,Beauty,1888,Beauty & Style,35,Beef Recipes,7,Belarus,1,Belgium,9,Belize,15,Bermuda,5,Best Products,17,Better Partner,40,Beverages,3,Bhutan,9,Bills to Pay,35,Birds,4,Birth Control,1,Birthday Cake,109,Blue Lagoon,2,Blueberry Cake,11,Bolivia,3,Books,2,Botswana,3,Brazil,38,Bread,11,Breads,1,Break Room,12,Breakfast & Brunch,6,Breakup,19,Breakups,3,breast,1,Breasts,69,Broken Hearts,5,Brownie,8,Brunei,1,Budget Travel,97,Bundt Cake,30,Business Skills,102,Butter Cake,52,Buying,1,By Region,3,Cake Decorating,113,Cakes,54,California,109,Cambodia,4,Camera,6,Canada,80,Cancer,73,Car Shows,1,Car Tech,2,Caramel Cake,5,Career,474,Career Advice,298,Career Choice,125,Career Growth,180,Career Paths,24,Career Problem,8,Caribbean,45,Caribbean & Mexico,5,Carrot Cake,22,Cats,49,Celebrity,17,Celebrity Dress,2,Celebs,1,Ceremonial Cake,9,Certified Pre-Owned Vehicles,1,Cheese Recipes,4,Cheesecakes,251,Chicago,7,Chicago Auto Show,2,Chicken Recipes,14,Chiffon Cake,5,Children's Health,21,Chile,7,China,21,Chocolate Cake,395,Christmas,35,Christmas Cake,23,Christmas Travel,14,Classic Cars,39,Cleaning Tips,144,Clinical Practice,1,Clothes,1,Cocktail Recipes,2,Coconut Cake,21,Coffee,1,Coffee Cake,15,Coliseum,1,Colombia,18,Colorado,32,Columbia,3,Communication,2,Companies,2,Compassion,2,Computing,16,Connecticut,4,Consumer Electronics Show,5,Cookies,10,Cooking,8,Corporate Travel,2,Costa Rica,13,Country Travel,249,Creative,309,Creative Idea,22,Creative Ideas,37,Croatia,15,Cruiser Travel,16,Cuba,18,Cultural Travel,66,Cupcake,322,Customs & Classics,2,Czech Republic,6,D.C.,2,Dandruff,1,Dating,18,Dating Advice,73,Dating Advice for Women,22,Dating Tips,13,Decor,23,Decorating Ideas,181,Delaware,1,Demotivational,636,Denmark,12,Dental Health,26,Dentistry,1,Depression,24,Desert Travel,1,Desserts,3,Detroit Auto Show,4,Diabetes,25,Diet,131,Dining Out,3,Dinner,14,Disease,116,Divorce,16,DIY,112,DIY Fashion,34,Dogs,156,Doughnuts,5,Dress,29,Drink,27,Drinks,1,Drinks & Cocktails,4,Driving,3,Drugs,3,Dubai,15,Ears,2,East Africa,4,Easter,1,Easter Island,1,Easter Travel,1,Eco Travel,18,Ecuador,7,Education,87,Eggs,3,Egypt,4,Electronics,4,Electronics and Gadgets,2,Emirates,1,England,13,Entertainment,148,Enthusiasts,131,Entrepreneurship,40,Estonia,2,Eswatini,1,Ethiopia,2,Europe,110,European Food,8,Exercises,51,Eye,300,Eye Health,28,Eyebrow,56,Eyelash,20,Face,54,Facts,284,Fall Travel,43,Family,16,Family Travel,128,Faroe Island,1,Fashion,395,Fashion for Kids,2,Fashion for Man,12,Fashion for Woman,31,Fat Loss,91,Father's Day Cake,4,Father's Day Travel,1,Featured,218,Features,1914,Fertility,2,Festival Travel,25,Fiji,6,Finance,233,Finland,16,Fish & Seafood,13,Fitness,1177,Fitness & Exercise,219,Florida,69,Food,538,Food and Drink,14,Food Recipes,7,France,37,Frankfurt Motor Show,2,Free Travel,3,French,6,French Polynesia,5,Friendship,40,Fruit & Veggie Recipes,8,Fruitcake,70,Fruits,4,Fuel Economy,1,Fun,42,Funny,546,Gadgets,31,Galapagos,3,Games,12,Garden,24,Gardening,276,Gearheads,1,General,7,Geneva Motor Show,3,Georgia,14,Germany,18,Get Healthy,63,Ghana,2,Girlfriend Grooming,10,Google,15,Graduation Cake,2,Gratitude,11,Greece,37,Green Living,5,Greenland,1,Grooming,89,Guatemala,2,Hair,1264,Hair Care,317,Hair Color,299,Hairstyle,65,Hairstyles,855,Halloween,41,Halloween Cake,12,Halloween Travel,9,Happiness,19,Hawaii,53,Hayden Panettiere,1,Headache,22,Health,1059,Health & Fitness,300,Health Care,491,Health Insurance,1,Healthcare Tech,6,Healthy,12,Healthy Drinks,31,Healthy Eating,186,Healthy Habits,159,Healthy Living,345,Hearing,1,Hiking Travel,63,HIV/AIDS,4,Holiday Travel,28,Holland,1,home,31,Home & Garden,205,Home and Decor,483,Honeymoon Travel,128,Hong Kong,13,Horoscope,31,Hot Rod Power Tour,1,Hotels,71,Housekeeper,8,Hungary,3,Ice cream Cake,21,Iceland,41,Idaho,4,Ideas,11,Illinois,13,Imports,1,Impress a Girl,20,Impress Women,4,Independence Day Travel,1,India,36,Indiana,5,Indonesia,13,Indoor Gardening,69,Industry,5,Inspiration,58,Insurance,5,Internet,19,Internship,8,Interview Skills,37,Investing,12,iPad,2,iPhone,6,Iraq,1,Ireland,36,Island,60,islands,2,Israel,9,Italy,56,Jamaica,8,Japan,44,Jealousy,2,Jewelry,13,Job Search,47,Jordan,6,Just For Fun,2,Kansas,6,Kentucky,2,Kenya,2,Kids,126,Kids & Pets,10,Kitchen,67,Koala,1,Korea,2,Kyrgyzstan,1,Lamb,2,Laptops,4,Latin America,3,Latin American Food,1,Latvia,1,Laundry,6,Layer Cake,95,Leadership,44,Legs,1,Lemon Cake,18,Life,1,Life Hacks,273,LifeStyle,1347,Lips,134,Lithuania,2,London,24,Long Distance Relationship,24,Los Angeles Auto Show,14,Louisiana,9,Love,165,Lowa,4,Lunch,5,Luxembourg,1,Luxury Travel,35,Maine,6,Maintenance,3,Makeup,608,Makeup & Beauty,11,Makeup Tips,77,Malaysia,1,Maldives,15,Malta,2,Mango Cake,3,Manicure,10,Marketing,10,Markets,11,Marriage,97,Marshmallow,3,Maryland,6,Massachusetts,9,Massage,5,Mauritius,6,Meditation,35,Men & Women,18,Men's,6,Men's Health,14,Menstruation,21,Mental Health,302,Mexico,74,Miami,13,Michigan,5,Microsoft,6,Middle Eastern Food,2,Mind,3,Mississippi,2,Missouri,7,Mobile,22,Moldova,1,Monaco,1,Money & Career,21,Monkey,1,Montana,12,Morocco,20,Mother's Day Travel,1,Motherhood,16,Motivation,2,Motorcycles,106,Motorsports,2,Mousse,2,Muffins,9,Mug Cake,14,Multiple Sclerosis,1,Muscle Cars,4,Muscle Cars & Hot Rods,3,Muscle Gain,2,Myanmar,9,Nail Art,195,Nails,252,Namibia,4,Nature,4,Nature Travel,102,Nepal,6,Netherlands,11,Nevada,23,Nevis,1,New Bikes,2,New Car Deals,1,New England,5,New Jersey,2,New Mexico,6,New Year Fashion,6,New Year's Day Travel,6,New York,55,New York Auto Show,3,New York City,20,New Zealand,47,Newfoundland,1,Newlyweds,4,News,334,Nicaragua,2,North America,11,North Carolina,6,North Dakota,1,North Ireland,1,Northern Ireland,1,Norway,20,Nutrition,447,Occasional Travel,9,Oceania,1,Offbeat,1026,Ohio,6,Oman,5,Online Date Tips,2,Operating Systems,2,Oral,4,Oregon,10,outdoor,3,Outfits,166,Ownership,61,Pain,24,Painting,16,Pakistan,2,Panama,5,Pancake,19,Panda,1,Panna Cotta,3,Paraguay,1,Parenting,370,Paris,23,Paris Motor Show,4,Pasta,2,Pastry,7,Pebble Beach Concours d'Elegance,2,Pedicure,4,Penguin,4,Pennsylvania,10,People & Places,88,Perfumes,14,Personal Finance,164,Peru,21,Pets,524,Phoenix,1,Photo Feature,1,Pie,27,Pimple,3,Plum Cake,1,Poke Cake,10,Poland,3,Popular Ingredients,26,Pork Recipes,7,Portable Media,14,Portugal,21,Pound Cake,55,Prague,1,Pregnancy,112,Premium,1,Printer,2,Protein Bars,1,Psychology,1,Pudding,9,Puerto Rico,7,Pumpkin Cake,45,Qatar,6,Quick & Easy Recipes,11,Real Estate,72,Recalls,4,Recipe,1098,Recipes,52,Recipes & Meal Ideas,3,Recipes By Course,5,Relationship,167,Relationship Advice,180,Relationship Advice for Men,23,Relationship Advice for Women,27,Relationship Problems,58,Relationship Secrets,14,Relationships,193,Research,94,Resort,11,Restaurants & News,13,Resume,11,Retirement,10,Reviews,1,Rhode Island,2,River Travel,2,Road Trips,49,Romania,4,Romantic Getaways,15,Rome,5,Russia,16,Safety,5,Saint Lucia,1,Saint Patrick's Day Travel,1,Salad,6,San Miguel de Allende,1,Science & Tech,66,Scotland,10,Seasonal,56,Seasonal Travel,59,Security,9,Self Help,14,Self-Care,3,SEMA Show,5,Senior Relationship,2,Sex,7,Sexual Health,19,Shanghai Auto Show,7,Shaving,1,Sheet Cake,20,Shirt,4,Shoes,29,Shopping,10,Shots & Shooters,1,Side Dishes,4,Sightseeing Tours,2,Singapore,18,Ski Resorts,10,Skin,429,Skin Caare,1,Skin Care,609,Sleep,62,Slovenia,6,Small Business,163,Smartphone,28,Smile,1,Smoothies & Juices,3,Snacks,1,Social Media,44,Solo Travel,24,Solomon Islands,1,Somoa,1,Soth Africa,1,South Africa,14,South America,3,South Carolina,4,South Dakota,5,South Korea,3,South Pacific,2,Space Travel,14,Spain,33,Special,46,Special Cake,579,Special Feature,113,Special Features,489,Sponge Cake,15,Sports,22,Sports and Exotics,4,Sports Cars,8,Spring Travel,23,Squirrel,1,Sri Lanka,6,Strawberry Cake,22,Street Fashion,8,Stress Relief,35,Stroke,2,Student Travel,1,Style Guide,25,Summer Travel,53,Summer Vacation,8,Supercars,10,Sweden,19,Swiss Alps,1,Switzerland,20,Tahiti,1,Taiwan,3,Tanzania,1,Tarts,12,Tattoos,81,Taxes,7,Teas,2,Tech,89,Tech Advice,12,Tech Education,7,Tech Hacks,19,Tech Updates,2,Technology,417,Teen Advice,4,Teeth,5,Tennessee,6,Texas,57,Thailand,31,Thanksgiving Cake,4,Thanksgiving Travel,5,Therapy,3,Things to Do,165,Tibet,2,Tips,264,Tips & Tricks,6,Tokyo Motor Show,2,Tools & Skills,16,Top Stocks,1,Top Stories,1,Traditional Cake,4,Train Travel,23,Training,1,Transportation,22,Travel,483,Travel Advice,64,Travel Apps,1,Travel Guide,40,Travel Tips,149,Trends,7,Trucks,1,True Health,5,Tunisia,2,Turkey,10,Turkish,1,Tuscany,1,TV,2,UAE,10,UK,40,Ukrine,1,Understanding Women,28,Urban Travel,47,Uruguary,1,USA,629,Utah,12,Uzbekistan,1,Vacation Travel,245,Valentine's Day Cake,7,Valentine's Day Travel,1,Vanilla Cake,17,Vegetables,3,Vehicle Travel,2,Venezuela,1,Vermont,4,Victoria Falls,1,Video,5,Vietnam,5,Virginia,5,Waffles,3,Washington,15,Washington DC,20,Waxing,19,Web & Social,17,Wedding,87,Wedding Cake,549,Wedding Dress,30,Weddings,60,Weddings Travel,4,wei,1,Weight Gain,29,Weight Loss,755,Weird,172,Wellness,193,West Indies,2,Wi-Fi,2,Wildlife Travel,13,Winter Travel,56,Wisconsin,5,Women Lifestyle,23,Women's,394,Women's Health,173,Work Environment,77,Workout,8,Workouts,81,Worldwide,155,Wyoming,2,xxx,1,Yemen,1,Yoga,85,YouTube,3,Zadar,2,Zambia,3,Zimbabwe,4,
ltr
item
Bloom Magazine: This Social Security Mistake Could Cost You Thousands
This Social Security Mistake Could Cost You Thousands
https://1.bp.blogspot.com/-w4CioJOtTkI/XkBua7zP3EI/AAAAAAAABGQ/Z4Js0N9jzXcxXgz9tF7GeQDnrmpmkPIfgCLcBGAsYHQ/s1600/Social%2BSecurity%2BMistake.jpg
https://1.bp.blogspot.com/-w4CioJOtTkI/XkBua7zP3EI/AAAAAAAABGQ/Z4Js0N9jzXcxXgz9tF7GeQDnrmpmkPIfgCLcBGAsYHQ/s72-c/Social%2BSecurity%2BMistake.jpg
Bloom Magazine
https://bloom.dearjulius.com/2020/02/this-social-security-mistake-could-cost.html
https://bloom.dearjulius.com/
https://bloom.dearjulius.com/
https://bloom.dearjulius.com/2020/02/this-social-security-mistake-could-cost.html
true
3829934206112735771
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy