Social Security and Widows/ widowers

[William M]

New members probably aren't ready to even think about this stuff , so this is mainly for those that were married and are now ready to look at future fiances.

 I not sure this is appropriate here, but feel this is extremely important information for my friends here to know. I just accidentally found this info watching YouTube and couldn't believe I did not get this info. It could have cost me thousands of dollars my wife had contributed  to SS, Maybe many here already know this info, but here goes anyway.

As you know you lose your spouses SS benefits. This will devastate my retirement financially and am sure many here and in the same situation. It seems very unfair after all those years of her paying into SS they rip the benefit away. Your expenses are not cut in half after your spouse passes away, so you should still get something but we just don't. That sux! Now you CAN get you spouses benefit instead of yours in it's larger than yours, but if not you only get that lousy one time $250 check.

So I thought that tiny $250 check wrapped me up with my wife's SS. and I went on to other things and put all that behind me.

NEXT

After my wife's death, I add a strong desire to quit work and retire as early as possible. I guess many here may feel the same? Taking on the extra load of syour spouse used to help handle, cleaning, bill paying, appointments , pet care etc. As you know it will keep you very busy. Then there is the extra stress you feel at work now, and my heart is no longer into it.  I want out!

The problem is we will already be hurting, losing that extra SS income.   Taking SS early cuts down the income even more, so what to do? But, then last might I caught a tiny blurb at the end of a retirement for widows video.

 

It appears that you can file for SS under  a "Restricted Application" for temporary survivor spousal benefits as early as 60 years old, and live off those benefits (as best you can) until your full retirement age, or even till 70 (with a bigger payout) then you can request  to turn off those benefits, and apply for YOUR SS benefits  at the FULL amount with no early retirement penalty!

In other words  -      You can retire early at 60, and use you spouses SS as a money bridge  to get to you personal benefits at a later time penalty free!

Did you guys know this?  I didn't, and it seems a lot of retirement blogs/ YT channels, don't know this either.  Unfortunately its seems that some SS representatives also don't know, so that could be an issue!

 

Any questions?

 

 

[widower2]

That's great if true, but I would check with the SS office to be sure. I would never count on a YT video (or any other internet site other than the SS one) for something so important.

[William M]

45 minutes ago, widower2 said:

That's great if true, but I would check with the SS office to be sure. I would never count on a YT video (or any other internet site other than the SS one) for something so important.

I'm going to set up an appointment.  I did check the website and it appears true. I found some additional videos reporting the same. Here's one that's very interesting

 

 

 

[KayC]

I didn't get it because you have to be married ten years.

[widower2]

Stupidity from the govt, go figure!

 

[Sar123]

This is true. A good friend of mine lost her husband in a freak accident at the age of 61. She was 61 when he passed away and she has been collecting his ss since then. She hasn’t reached her full retirement age yet (she’s 64) and when she does, she will switch over to hers at age 67. She still works part time for extra money, but it would have been much harder for her if she hadn’t been able to collect on his social security. 

1 hour ago, KayC said:

didn't get it because you have to be married ten years.

That’s awful. Sorry that happened to you. So unfair!

[William M]

2 hours ago, KayC said:

I didn't get it because you have to be married ten years.

Kay, I'm reading that you only have to be married 9 months if widowed, but 10 years if divorced?

[April Ballou]

I couldn't get anything because the social security office told me I have to be 60 to receive widow's benefits.  Or if I remarry I have to wait til I'm 62.  

[KayC]

9 hours ago, William M said:

Kay, I'm reading that you only have to be married 9 months if widowed, but 10 years if divorced?

That's what they told me in their office, maybe it's changed since, 18 years was quite a while ago. Yet my GF got it when her XH died. To think my XH is worth more dead than alive?!

[DMB]

While it is true you can collect a spouse's SS as a survivor at age 60, BUT the benefit amount is reduced until you reach your full retirement age.  

In other words, if you would lose your spouse and you were age 60, you can apply for their SS.  If you are working, that benefit is reduced by $2 for every $1 you earn over $21,240 (in 2023).  It's not worth it to me to even apply.  The monthly amount would be $100 or less. LOL

If you are making $21,240 this year or less, then yes, apply and get the $$.

[KayC]

I was told I couldn't collect because we hadn't been married ten yearsl

[Gail 8588]

It is a bit blurry in my memory, but when my husband died he was already collecting his SS as he was past his federal full retirement age. He was also doing some consulting work and there was no limit on how much he could earn. 

When he died, I was able to take his full SS check as a widow's benefit.  (I was over 60 at that time.)  I can't remember if I could take that while I was still working, or if I had to quit working to get the benefit.  I think maybe I had to wait until I quit working for the reason DMB described. 

When I took my widow's benefit, I got the full amount he had been receiving. It was not reduced due to my being younger than my full retirement age.  I think that was because he had reached his full retirement age before he died. Anyway, I know I got his full benefit.

I am still taking my widow's benefit and letting my benefit grow. I will be 70 in 2024 and then I will switch over to my benefit. 

William M you are so right that people need to understand what options are available to them.  It is really hard to go from a 2 income household to a 1 income household, especially when the one person left is barely able to function. 

Gail

[SSC]

Does it work in the opposite?  Can I take my benefit at 60 and take my husband’s later?  Would his grow at all?  I still have 4 years til I’m 60 but I’m very fortunate in that my home is paid off so I’m not pressured to take the biggest benefit.  My husband made far more money than I did but I’m not sure how that works out in the end since he died at the age of 53.

[KayC]

9 hours ago, SSC said:

Can I take my benefit at 60 and take my husband’s later?

That would be a question for the soc. sec. office, maybe contact your local one, rather than the toll free, so you have a real person in front of you, maybe they'd be more inclined to care and give you truth. I didn't have much luck with the toll free line.

[William M]

18 hours ago, SSC said:

Does it work in the opposite?  Can I take my benefit at 60 and take my husband’s later?  Would his grow at all?  I still have 4 years til I’m 60 but I’m very fortunate in that my home is paid off so I’m not pressured to take the biggest benefit.  My husband made far more money than I did but I’m not sure how that works out in the end since he died at the age of 53.

My understanding is that you CAN do it this way too. BUT,  If you take yours first you can't do it at 60, and have to wait until 62. also his will grow, but will stop growing at your full retirement age, not all the way to 70. Where as yours would have grown all the way to 70.( As Kay said this needs verification)

BTW SSC    Be very careful when applying for yours first.  You must specify that your ONLY applying for yours and not his too.  If you accidently apply for both you will be stuck with same one forever!

My wife's SS  is much smaller, so I will take that one first at 60, and let mine grow until my FRA or as long as I can survive on her tiny benefit?

I still can't believe I almost missed this option completely. SS should really inform us of this. Thank goodness for youtube videos

[Gail 8588]

If you take your SS benefit at 60, it will be greatly reduced (if you can take it at all at 60, it might be 62 is the earliest you can take yours).  

I don't know if delaying taking your widow's benefit will have any advantage. I don't think his benefit would grow the way your benefit would increase if you delayed taking yours until age 70.  I think his benefit will be fixed at the date of his death. 

I agree with Kay that you should talk to your SS office to see what they say. 

[SSC]

Thanks @William M and everyone else  for your insight.  It’s amazing not only has our life turned upside down but the financial planning has changed drastically as well.  Usually the last ten years of one’s career is when you make the most money and when you put the most money away for retirement.  Well, that isn’t happening anymore for me.  I always had little part time jobs never really much of a career so not sure how that’s going to work out for me with SS.  Luckily I was a preschool teacher with the school district for ten years so I’ll get a small pension with them.  Every little bit helps I guess!

[widower2]

9 hours ago, Gail 8588 said:

If you take your SS benefit at 60, it will be greatly reduced

If you take it at 62, it's greatly reduced. So is the COLA (Cost of Living Adjustments). If at all possible, and I realize it isn't always, I would try to hold off to not less than 65 and ideally 67.

[KayC]

I had to take at 65 and got a year's penalty for life. It hurts.

[William M]

11 hours ago, widower2 said:

If you take it at 62, it's greatly reduced. So is the COLA (Cost of Living Adjustments). If at all possible, and I realize it isn't always, I would try to hold off to not less than 65 and ideally 67.

That's the great thing about this option.  Take one early, and let the other grow to 67, then switch. No need to let the first one grow as it goes away after you switch. This assumes you can live off the amount of the first one while waiting it out.  That will be my challenge, as it won't be much, but I will supplement.