The 10 Year Social Security Rule that Couples NEED to know! 🤯

In today's video, Marvin from Medicare School talks about the important Social Security rules for married and divorced folks. He keeps it simple, focusing on the key points like the 10-year rule, which is super important for understanding how much money you can get from Social Security based on your or your spouse's work. Marvin explains everything in a way that's easy to get, so you know when you can start taking these benefits and how much you can expect.

He also goes into how you can get benefits from your spouse's work record and what you need to do if you're divorced. Marvin makes sure to cover how the amount of money you get can change depending on when you decide to take these benefits. If you're thinking about retirement or just want to know more about Social Security, Marvin's got you covered with helpful tips and clear explanations.

00:00 Intro
00:25 4 Types of Social Security Benefits
03:40 3 General Rules for all social security benefits
13:27 Eligibility Requirements

#medicare #medicare2024 #MedicareSchool #MarvinMusick #turning65

[Richardcarlett]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[stephenbonaduce]

"Here's where it gets tricky." 

My friend! It was ALREADY tricky! 😆

[kyhilltophome]

We have a friend at church who's husband divorced her about 10 years ago. They were both Social Security age, but her own payment was small. This was not a divorce she wanted. About 18 or so mos after the divorce he contracted an aggressive form of cancer and was gone in a few months. She took care of him through his death. He had made arrangements for her to be compensated on his death with a sum of money. In the aftermath of his death his biological child that she helped raise through their 30 years of marriage tried to cut her out of that sum of money. In the end she won and got what she was entitled to. Awhile later talking to her at church one day I asked her if she had contacted SS to get her payment adjusted. She had no idea she could do that. The next time we saw her she thanked me because it made a $400 difference in her monthly payment which was like a windfall for her.

[Susanhartman.]

Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

[wk]

Thank you Marvin for another very informative video! So helpful for Seniors!

[stevent]

I am a retired firefighter in Oklahoma with a state fire pension. I can’t draw ssa because I have a state government pension. Have worked 16 years in a civilian job paying into but not allowed to get it.

[jaymontange]

There is no retroactive provision. So be proactive and do your footwork .

[embun]

Thank you for your excellent narration backed by in-depth knowledge of SS & Med. CARE.

[BREEZEMAYES]

Years ago my husband left me after 19 yrs of marriage to live with someone else. We did not divorce for more than 4 years and then he remarried. He died in 2016. His wife tried to say they were common law married in Texas, but social security explained didn't apply as he was legally married to me til 2008. I was able to apply & get all of his survivor's benefit when I turned 66 & then convert to mine when I turned 70. I would not have wished him ill but it has made my life comfortable. I am surprised how many people who do not know about survivor's benefit and ability to convert at 70.

[Dwhinery]

The one thing you didn’t explain is, for example, I take benefits at age 62 based on my spouses record and after I reach full retirement age and my spouse passes away, can I now take survivors benefits at 100% or am I stuck because I originally retired at 62 on spousal benefits?

[astridcolvin]

Thank you for such great information, .I got so much clarity

[edwardloizides]

You did a great job explaining that the widower ( in my case) may take the deceased spouse benefit without loosing the growth by delaying his own benefit. No deeming penalty. I took my deceased wife benefit ( she was receiving a benefit while I was not) at my full retirement age. I am still employed at 66 1/2 and want my benefit to continue to grow at 8% per year until age 70.
My question: at age 70 will I then only be taking my delayed maximum benefit and have to relinquish my deceased spouses’ benefit ?

[randywiley]

This was a outstanding educational video thx

[alanjohnson]

Everyone should get 100% of what they paid in over the years!!!!

[rickgalos]

For spousal payment, where does the SS.gov documentation address getting married after age 60?

[charleswieand]

And if you get out of 62 and live cheap, you’re better off doing it then worrying about getting more money later on when you’re close to dead I had three or four friends that hung around after they could get your retirement out of the shop and kept working till Social Security age, and they’re all dead at least four of them I took early retirement then retired 22 years and then got 62 years old and took that money and I’m still kicking but I don’t spend a lot of money.

[mikeladley]

I have been getting Social Security for years. I got remarried almost 5 yrs ago in the Philippines. I was told by the US Embassy that my wife must live in the US for 5 yrs before she gets any survivor benefits. Have you heard if this?

[dougdorrer]

Is there a benefit cap for high income earners?

[ChristiDwyer]

If you apply for benefits and you have an ex-spouce (meeting all criteria to draw from their benefits) and when you apply your own benefits are greater than their 50%, but later they unfortunately pass away, can you adjust to receive 100% survivor for the ex-spouce?

[hugh]

Are delayed credits available for survivor widow benefits- if you wait past FRA?
It was my interpretation, that is not the case and any benefit increase stops at FRA.