The Mistake: Remarrying Without Knowing How It Will Affects Your Benefits
This is something a lot of couples seem to deal with, especially if they were unaware that tying the knot again could damage their retirement plans permanently. Remember, claiming your ex’s benefits comes with certain rules. For example, you can only start claiming when you turn 62.
But be careful, if you remarry, you’ll be saying goodbye to your ex-spouse’s benefits.
This is a real shame, especially for those who haven’t had the chance to complete 35 years of work because they had decided to be a stay-at-home spouse.
Solution: Know the Implications Before Tying the Knot
Not being able to marry someone because of Social Security seems very unfair. Sadly, this is something you’re going to have to consider. Have a candid conversation with your current partner and see if giving up on your ex’s Social Security is worth it.
In some cases, it might be. But not everyone can easily turn their back on the extra income, especially later in life. So before you decide anything, make sure you’ve considered every possibility.
