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Social Security and Divorce - CLICK TO WATCH

Oct 01, 2024 | Nora Yousif


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Financial Advisor Nora Yousif CFP®, CDFA®, of Empower House Financial Group, shares surprising ways you may be able to maximize Social Security benefits when divorced.

Nora Yousif looking at social security guide

How does Social Security work when you are divorced?

Well, nearly the exact same way as when you are married. But there are some differences. So, let's break it down.

When you are divorced, you can either:

  1. Collect your own personal Social Security benefit amount
  2. OR you can collect the amount equal to half of what your ex-spouse will be collecting at their full retirement age.

You choose whichever is higher. But, keep in mind, in order to receive ex-spousal Social Security benefits, you have to have been married for at least ten years to be eligible.

Surprising Facts about Social Security and Divorce

Interestingly enough, Social Security benefits are a little bit better when you are divorced than when you are married. Here are a few reasons why:

Start drawing when you like.

You don't have to wait for your spouse to turn on their Social Security benefits to start receiving your ex-spousal Social Security benefit. You can start on a timeline that works for you and your long-term plan.

For the hopeless romantics.

If you are a hopeful romantic, like my uncle Jimmy, who has been married multiple times, you can choose your ex-spousal benefit based on whoever has the highest amount.

Will my bread be sliced too thin?

If you are the primary breadwinner and you have one (or multiple) spouses drawing Social Security benefits off your earnings history, know that there is NO adverse effect to you!

Reach out to me if you could use some support in setting yourself up for financial success post-divorce.

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The views presented herein are solely those of Empower House Financial Group and do not necessarily represent the views of RBC Wealth Management. The current status of issues discussed in this article is subject to change based on market conditions and industry fundamentals. Clients should work with their Financial Advisor to develop investment strategies tailored to their own financial circumstances. Past performance is no guarantee of future results.

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