If you’re divorced, you may be eligible to receive Social Security benefits based on your ex’s work history – but there are rules. ► Announcing THE RETIREMENT ADVENTURE CLUB! We've launched an online membership designed to help you plan for retirement and connect with others who are asking the same retirement questions you’re asking right now. The Club will feature access to RightCapital financial planning software, a growing library of financial planning checklists, online courses, and regular access to me and the team during live-streamed office hours calls. Timestamps 0:00 - Social Security for divorced spouses 0:25 - How much you can receive 1:30 - Requirements for eligibility 2:26 - A funny rule to think about *** FREE GUIDE *** To learn more, visit our website: #pranawealth #patrickking #howtoretire #retirement #retirementplanning --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football. Let’s connect: LinkedIn – PatrickBKing Facebook – @pranawealth Instagram – @pranawealth Twitter – @PranaWealth ---------- DISCLAIMER: This is a publication of Prana Wealth Management LLC. All opinions of the authors expressed herein are as of the date of publication and are subject to change. Any information presented herein is not an offer to buy or sell, nor a solicitation to buy or sell any securities or products mentioned. Any investment, tax, legal, or estate planning or information is to be considered general in nature and is not intended as personalized financial planning advice. Always consult a financial, legal, or tax professional regarding your specific situation. Different investments have varying degrees of risk and there is no assurance that they will be suitable for a particular person’s portfolio. Past performance is not indicative of future results. Prana Wealth Management LLC is a registered investment adviser in the state of Georgia and other states where it is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement from securities regulators. Prana Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Prana Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Prana Wealth Management LLC. ---------- CONTENT DISCLAIMER: The views and opinions expressed through this media or in comments on this channel are those of the creators and do not necessarily reflect the views and opinions held by this channel's broadcaster. Due to the social nature of this channel, these videos may contain content copyrighted by another person or entity. This channel's owner claims no copyright to said content. The broadcaster of this channel cannot be held accountable for the copyrighted content. The broadcaster shares and strives to verify information, but cannot warrant the accuracy of copyrights or completeness of the information on this channel. Any copyrighted material shared on this channel is intended to be shared by Fair Use. If you have a complaint about the use of copyrighted material, please contact the broadcaster prior to making a copyright claim. Any infringement is unintentional and will be rectified to all parties' satisfaction....(read more)
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Social Security provides financial assistance to countless Americans, offering a safety net during retirement or times of disability. While many individuals are well-aware of the benefits they themselves may receive, it is important to also understand the benefits available to divorced spouses. Divorce is a reality that many couples face, and it can have significant financial implications for both parties involved. However, divorced spouses may still be entitled to claim Social Security benefits based on their ex-spouse's work record, even after the marriage has ended. To qualify for Social Security benefits as a divorced spouse, several conditions must be met. First, the marriage must have lasted at least ten years. Second, the individual seeking benefits must be unmarried, unless their subsequent marriage ended through the death of their spouse. Additionally, the beneficiary must be at least 62 years old, and their ex-spouse must be eligible to receive Social Security retirement or disability benefits. Once these requirements are met, a divorced spouse can begin to explore their potential benefits. If one's ex-spouse is eligible for Social Security but has not yet claimed benefits, they can still claim based on their ex-spouse's work record. This is true even if their ex-spouse has remarried. The divorced spouse will not receive more than half of their ex-spouse's full benefit amount, but it is a valuable resource in helping to secure a stable financial future. It is important to note that when a divorced spouse claims Social Security benefits, it does not affect the benefits received by their ex-spouse or his or her current spouse. In other words, claiming benefits as a divorced spouse does not reduce the amount that your ex-spouse or their new spouse is entitled to. It is also worth mentioning that if one qualifies for Social Security benefits on their own work record and the ex-spouse's record, the Social Security Administration will always pay the higher of the two amounts. This ensures that individuals can receive the maximum benefits to which they are entitled. To apply for Social Security benefits as a divorced spouse, one needs to provide certain documents and information. This includes proof of a marriage that lasted at least ten years, official divorce papers, and the ex-spouse's Social Security number. It is recommended to prepare these documents in advance to expedite the application process. Understanding and claiming Social Security benefits for divorced spouses can be a complex process, but it is crucial to securing financial stability. The Social Security Administration provides information and resources to guide individuals through the application process. Additionally, seeking advice from financial planners or consulting legal professionals specializing in divorce and Social Security matters can be beneficial. In conclusion, Social Security benefits for divorced spouses offer valuable financial support to those who have ended their marriage. By meeting certain requirements and following the appropriate application procedures, divorced individuals can claim benefits based on their ex-spouse's work record. This can be an essential lifeline for those facing financial uncertainty post-divorce and can contribute to a more secure retirement. It is imperative that divorced spouses are aware of their rights and take advantage of the benefits they are entitled to. https://inflationprotection.org/social-security-benefits-for-spouses-after-divorce/?feed_id=109432&_unique_id=64915c2ed7916 #Inflation #Retirement #GoldIRA #Wealth #Investing #feeonlyfinancialadvisor #feeonlyfinancialplanner #financialadvisor #financialadvisorinatlanta #financialplanner #financialplannerinatlanta #FinancialPlanning #howtoretire #PatrickKing #personalfinance #PranaWealth #Retirement #retirementplanning #SpousalIRA #feeonlyfinancialadvisor #feeonlyfinancialplanner #financialadvisor #financialadvisorinatlanta #financialplanner #financialplannerinatlanta #FinancialPlanning #howtoretire #PatrickKing #personalfinance #PranaWealth #Retirement #retirementplanning
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