10 Is the Magic Number

Following up on the May class I taught on Social Security:

Many women have insufficient credits to collect social security on their own record or will receive considerably less than their spouse at retirement. This may be due to years spent caring for children or lower earning.

If a couple is married for 10 years or more, the lower wage earner is entitled to receive half of her ex-spouse's Social Security at retirement. The higher wage earner’s Social Security payments are unaffected.

Couples considering divorce who are close to that 10 year mark should wait just a little longer as that will increase retirement options for a wife with no reduction in her husband's payments.

Make certain you will pass the 10 year mark before the date of the final decree.