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So I take it her ex never married again? (Because it would seem impossible that an ex wife and current wife could both get benefits.......) ?
A quick google:
"If you are divorced, but your marriage lasted 10 years or longer, you can receive benefits on your ex-spouse's record (even if they have remarried) if: You are unmarried; You are age 62 or older; Your ex-spouse is entitled to Social Security retirement or disability benefits"
What really matters is your monthly income, not your lifetime payout. You live on your monthly income. What if you live to be 90?
Not necessarily. It depends on the individual, how long they think they will work, is this person married and does the spouse have their own S/S, what other assets do they have they can draw on and what genetic factors may effect their longevity. There is one answer that fits all people or meets all needs.
In our case, it was begin at age 62 and allow the IRAs to grow untouched for 8 years. The present value of one's S/S, assuming no work after age 62 and living a standard life expectancy (about age 83 at that point), is the greatest at age 62 or 63. It declines from there forward. If one lives longer, then it is better to wait. The largest monthly payout may be best for some, but not for all.
Nope, as many ex Wives as can be had for 10 years per marriage, plus the current wife of at least 2 years, can ALL collect off the original husbands SS, IF none of the women remarry. Same is true for ex husbands of wives. BUT the husband does not have to have filed, only the unremarried ex wife. (And vica versa). She is limited to 1/2 the FRA amount if both are FRA. Reduced benefits apply for filing early. If the husband dies, the current wife gets what ever is larger, her own SS OR his current one. The unmarried exwife only can take the larger as well, and can only get as much as full FRA, but can claim as early as 60 on his death (50 if disabled), same as a current wife. The ex wife can remarry after 60 and collecting ex spouse death benefits, foregoes current husbands benefits.
Nope, as many ex Wives as can be had for 10 years per marriage, plus the current wife of at least 2 years, can ALL collect off the original husbands SS, IF none of the women remarry. Same is true for ex husbands of wives. BUT the husband does not have to have filed, only the unremarried ex wife. (And vica versa). She is limited to 1/2 the FRA amount if both are FRA. Reduced benefits apply for filing early. If the husband dies, the current wife gets what ever is larger, her own SS OR his current one. The unmarried exwife only can take the larger as well, and can only get as much as full FRA, but can claim as early as 60 on his death (50 if disabled), same as a current wife. The ex wife can remarry after 60 and collecting ex spouse death benefits, foregoes current husbands benefits.
That's not quite right-( as I understand it anyway) for example- my husbands ex wife remarried but the guy died- so now she is eligible to claim off my husband again.
she is eligible to claim off your husband if she has no work record of her own if she was under 62 in 2015 , but survivor benefits are usually higher since they are not based on 1/2 . if under 62 in 2015 she can only file for her own if she has a record and if 1/2 an ex husband's full benefit is higher than her own full the difference is added to her own benefit .
she cannot claim an ex spouses and let her own grow unless she was 62 or older in 2015 . survivor benefits have different rules .
That's not quite right-( as I understand it anyway) for example- my husbands ex wife remarried but the guy died- so now she is eligible to claim off my husband again.
My sister had the same situation, and first husband maxed contribution while second husband marginally qualified. She is claiming spousal support on the first husband's SS claim.
"If you are divorced, but your marriage lasted 10 years or longer, you can receive benefits on your ex-spouse's record (even if they have remarried) if: You are unmarried; You are age 62 or older; Your ex-spouse is entitled to Social Security retirement or disability benefits"
If you take your SS at 62, you are ahead of the game. If you wait to 67, you have to live to 82 just to break even with the 62 amount received. I retired at 62 and downsized and never looked back. I'm 70 now. I've got 8 years of retirement under my belt, instead of 8 extra years working. I loved my job, but retirement is better. "Money for nothing and your checks for free" to quote the Dire Straits MTV song.
All the calculations in the world won't help you if you fall over the day you retire! You should retire and go on SS as soon as your monthly income (from all sources) will support an adequate lifestyle.
why bother if you are dying the next day ? as long as we are dreaming up visions why bother waiting until 62 to retire . you can die the next day . .
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