The article explains the complexities of Social Security, especially regarding spousal benefits. It clarifies that claiming benefits early does not allow for later recovery of full amounts, leading to lifelong reductions. A couple raised concerns on Reddit about potentially missing out on spousal benefits since one spouse retired before the other. However, the article emphasizes that spousal benefits can only be accessed if the higher-earning spouse has claimed first, highlighting the importance of understanding these rules to make informed retirement decisions.
The misconception that early Social Security benefits are merely reduced temporarily can lead to retirement planning mistakes that affect beneficiaries for life.
Understanding spousal benefits is essential, as only eligible spouses can claim them; a spouse must be receiving their benefits first for claims to apply.
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