11) They’re Exhausting the Options
Thinking about failed marriages or a deceased spouse is obviously not pleasant. However, you may be entitled to more retirement money if you’ve gone through either situation. If you were married for 10 years or more before divorcing a previous spouse, you can claim up to 50% of their earnings. For example, if you were a stay-at-home-parent for a period, it’s normal you’d have a smaller income history and savings. So, you have the option to claim either 50% of your ex-spouse’s earnings or 100% of your own – whichever is greater. You may also be able to collect all of your ex-spouse’s Social Security if they passed away. The conditions state you must be at least 60, have been married for at least 10 years, and not have remarried before you turned 60. Revisiting the past may have some financial benefits as you and your current spouse face retirement.
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