Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “Should my wife apply for Social Security on my account?”, originally published on July 6, 2023.
A 30-second read by Nicholas Scheibner, CFP®: When your wife applies for Social Security, Social Security will automatically apply for both her own retirement benefits and spousal benefits. This is called “deemed filing”. If your wife never worked, or if her own retirement benefit would be less than ½ of your Full Retirement Age Retirement benefit, she may be entitled to spousal benefits.
Keep in mind, if your wife files for benefits before her Full Retirement Age, there will be an early filing reduction in her benefits. Your wife can only receive spousal benefits if you are currently collecting retirement benefits.
The application website for everyone is: https://www.ssa.gov/apply. You can also apply via a phone appointment with Social Security, or by contacting your local Social Security office.
If you have any further questions, please reach out to your Baron Team.
Disclosure: This is a general communication being provided for informational purposes only. This material is not intended to be relied upon as a forecast, research, tax or investment advice. Please consult your financial planning and tax professional for personal advice.