Will Marriage Impact Your Social Security? Suze Orman Breaks It Down
Friday, Jan 17, 2025 1:12 pm ET
2min read Marriage is a significant life event that can bring about numerous changes, including financial ones. One aspect that often goes overlooked is how marriage can impact your Social Security benefits. In this article, we'll explore the ways in which remarriage can affect your Social Security benefits, using insights from financial expert Suze Orman.
Remarriage and Survivor Benefits
If you're a widower or widow who remarries, your survivor benefits based on your late spouse's record may be impacted, depending on the age at which you remarry:
* If you remarry before age 60, you will lose your eligibility for survivor benefits based on your late spouse's record.
* If you remarry between the ages of 50 and 59, you may still be eligible for disabled survivor benefits if you were disabled and unable to work when you remarried, and the remarriage occurred after age 50. If the remarriage ends before you reach age 60, you may be able to get benefits on your previous deceased spouse's record, starting the first month in which the later marriage ended, if all entitlement requirements are met.
* If you remarry after age 60, you may still be eligible for survivor benefits on your deceased spouse's record or benefits on your new spouse's record, depending on where you are due the greatest benefit amount.
Remarriage and Divorced Spouse Benefits
If you're a divorced woman who remarries, your divorced spouse benefits may also be affected:
* If you're receiving benefits on your ex-spouse's record, remarriage will stop those benefits. You should report your new marriage to avoid being overpaid.
* After remarriage, you may be eligible for benefits on your new spouse's record, if your new spouse is receiving benefits. The rules for divorced spouse's benefits are slightly different, and you can find more information on the Social Security Administration's Family benefits page.
* If you were receiving survivor benefits as a widow or widower, remarriage before age 60 will stop those benefits. However, if you remarry after age 60, you may still be eligible for survivor benefits on your deceased spouse's record or benefits on your new spouse's record, depending on which would result in the greatest benefit amount.
The Importance of Reporting Remarriage
It's crucial to report your remarriage to the Social Security Administration to avoid being overpaid. Remarriage can have significant implications for your Social Security benefits, and it's essential to understand the rules and how they apply to your specific situation to make informed decisions about your financial future.
In conclusion, remarriage can have a substantial impact on your Social Security benefits, depending on the age at which you remarry and the specific circumstances surrounding your previous marriage. It's essential to be aware of the potential implications and take the necessary steps to ensure you're receiving the benefits you're entitled to. By staying informed and making the right decisions, you can secure your financial future and enjoy the peace of mind that comes with knowing you're taking care of yourself and your loved ones.
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