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Moller-Maersk earnings hit by oil, freight falls
Hermès sales up 15% on Asian demand, euro
SoftBank profit falls sharply, misses views
Dollar hovers above 15-month low vs. yen

Disney's ESPN woes undercut 'Star Wars' gain
Apple CEO Cook’s deleted Super Bowl tweet
What to expect from Whole Foods earnings
Japan stocks fall to lowest level since 2014

Asahi bids more than $3.5 bln for Peroni, Grolsch
Heineken lifts dividend as profit rises
Carlsberg reports surprise net profit
Greene King sales rise, cheered by Christmas


Five questions that Janet Yellen must answer
Yellen may say goal is not to slow the economy
Fed: Too white, too male, too many bankers?
Expansion won’t die of old age: S.F. Fed study

IRS says identity thieves breached its systems
How to know if your tax preparer is a crook
Tax software firm warns of data breach
White House's lesson about online security

The sad truth of why retirement
is a myth

Why you should consider retiring abroad

Burberry sues, says J.C. Penney copied its designs

Is it wise to hold onto cash reserves?

Election year could be painful on Wall Street

S.F. real estate looks like it did before dot-com crash
Every major city in the world, in one map

Americans quitting their jobs hit a nine-year high
NFIB survey hints wage gains are fleeting
Job openings are second highest on record

Recipe for less boring Oscar speeches

What to know before buying Beyoncé tickets

How to get mortgage approved: hope for sunny day

99 Cent Gas May Be on Its Way
99-cents-a-gallon gas may be on its way: 24/7 Wall St.

Is the gold rally the real deal or ‘fool’s gold’?
Teen can keep $20,000 gold bar found in lake
Gold one of Wall Street’s best bets early in 2016
Gold futures stretch win streak to five sessions

Why is everyone freaking out about ‘CoCos’?
Convertible bonds are alluring as stocks fall

This stock market has been Europe’s best in 2016
Europe’s battles: migrants, ‘Brexit’ and ECB

Strategists are arguing that stocks need a true purge

A strand of Lennon’s hair is selling for $12,000

White House forecasts best growth in years
Obama proposes $4.1 trillion federal budget
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/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.26%
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/quotes/zigman/16008150/realtime/sampled 114.71 -0.41 0.35%
Pound
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DXY Index
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WSJ $ Idx
/quotes/zigman/41508961/realtime 89.20 -0.08 0.09%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.74 +0.01 0.74%
German 10y
/quotes/zigman/15866409/realtime 0.25 +0.01 4.45%
Italy 10yr
/quotes/zigman/15866497/realtime 1.64 -0.05 2.86%
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FB /quotes/zigman/9962609/composite 99.54 -0.21 -0.21%
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GOOG /quotes/zigman/59527964/composite 678.11 -4.63 -0.68%
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C /quotes/zigman/5065548/composite 37.51 -0.30 -0.79%
F /quotes/zigman/264304/composite 11.35 -0.24 -2.07%
T /quotes/zigman/398198/composite 36.65 -0.46 -1.24%
BP /quotes/zigman/247026/composite 28.95 -0.97 -3.24%
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5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.26% 15.26% 15.27%
Reward 15.28% 15.28% 15.14%
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Bad Credit 22.88% 22.88% 22.73%
Source:CreditCards.com

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SmartMoney Blogs

Encore
A blog about living in and planning for retirement

3 Ways a Spouse Can Boost Your Social Security Payments

iStockPhoto

As I previously reported on SmartMoney.com, the decision on when to start collecting Social Security benefits can have a huge impact on the size of your monthly benefit.

But married couples can boost their lifetime benefits further if they time their retirements carefully, analysts say.

These spousal benefits allow one spouse to receive half of the retirement amount awarded to their husband or wife. Benefits can be greater for both spouses if they can wait at least until full retirement age before they start collecting payments. But both spouses don‘t have to collect at the same time.

Here are some tips for getting the most out of your marriage when it comes to Social Security:

Lower earner gets a boost. A married person could see their benefits grow thanks to spousal benefits if one person earned much more than the other. For example, even if the lower earning spouse worked and is eligible for their own retirement benefits, their minimum benefit should be equal to at least half of the benefits awarded to the higher earning spouse. So if their full benefits fall short of that, they could get a combination of benefits that add up to the higher amount.

One spouse delays benefits, the other collects. Individuals can boost their retirement benefits by up to 32% if they wait until age 70 to start collecting Social Security. But married couples don’t have to go without income while they wait: one spouse can start collecting spousal benefits, even while the other is holding off payments. Say a husband decides to put off collecting full retirement benefits until age 70. He can still apply for retirement benefits and then ask to have payments suspended. That way his wife can receive a benefit one she reaches full retirement age of up to half of his regular retirement benefit would be, not including the boost he should get for delaying retirement. When he reaches age 70, he can collect his bigger check, and she can keep collecting her spousal benefits.

Collect while you wait. In a similar scenario, a person who has reached full retirement age and is eligible for spousal benefits and his or her own retirement benefit can choose to collect spousal benefits and to delay receiving their own retirement benefits. When they decide to collect their own retirement benefits at a later date, they can receive larger benefits if they’ve waited beyond their full retirement age.  It doesn’t matter if the other spouse is collecting retirement benefits or also delaying payments past retirement age.

But readers should keep in mind that regular benefits as well as spousal benefits are reduced if you start collecting them early at age 62. And once you reach age 70, there is no added incentive to either spouse to keep putting off payments.

Use the SmartMoney Retirement Planner to see the effect of delayed social security collection as well as spousal benefits.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (2 of 2)

View all Comments »
    • This why our social security system is going broke. to me, a spouse should never be able to receive spouse’s benefits without the worker getting his. This file and suspend is a way of manipulating the system and should be done away with.

    • I just viewed your interview on FOX and was disappointed by your response. While it is true that waiting until 70 will give you a larger payment from Social Security (SS)you didn’t discuss or mention that the individual will lose money by not taking the money from 62.

      If you do not take SS payments at 62, that is money not received. If you multiply by 96 (months of payments not received) and then divide that by the new SS payment at 70, you will find that it will take 9-12 years to get you back to even (the total amount you would have received assuming you took the lower payments from age 62).

      Furthermore, you must live longer.

      I would expect comments like yours if you were working for the Government and wanted to delay individuals from taking money now, thereby delaying when SS actually goes Bankrupt. Less participation means less payments by the Government.

      Offer all possibilities next time.

About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.

MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Open in:

Futures: /quotes/zigman/43106711/delayed S&P 500 +0.1% /quotes/zigman/48241424/delayed DOW +0.1% /quotes/zigman/43108768/delayed NASDAQ +0.3%

need to know
Moller-Maersk earnings hit by oil, freight falls
Hermès sales up 15% on Asian demand, euro
SoftBank profit falls sharply, misses views
Dollar hovers above 15-month low vs. yen

Disney's ESPN woes undercut 'Star Wars' gain
Apple CEO Cook’s deleted Super Bowl tweet
What to expect from Whole Foods earnings
Japan stocks fall to lowest level since 2014

Asahi bids more than $3.5 bln for Peroni, Grolsch
Heineken lifts dividend as profit rises
Carlsberg reports surprise net profit
Greene King sales rise, cheered by Christmas


Five questions that Janet Yellen must answer
Yellen may say goal is not to slow the economy
Fed: Too white, too male, too many bankers?
Expansion won’t die of old age: S.F. Fed study

IRS says identity thieves breached its systems
How to know if your tax preparer is a crook
Tax software firm warns of data breach
White House's lesson about online security

The sad truth of why retirement
is a myth

Why you should consider retiring abroad

Burberry sues, says J.C. Penney copied its designs

Is it wise to hold onto cash reserves?

Election year could be painful on Wall Street

S.F. real estate looks like it did before dot-com crash
Every major city in the world, in one map

Americans quitting their jobs hit a nine-year high
NFIB survey hints wage gains are fleeting
Job openings are second highest on record

Recipe for less boring Oscar speeches

What to know before buying Beyoncé tickets

How to get mortgage approved: hope for sunny day

99 Cent Gas May Be on Its Way
99-cents-a-gallon gas may be on its way: 24/7 Wall St.

Is the gold rally the real deal or ‘fool’s gold’?
Teen can keep $20,000 gold bar found in lake
Gold one of Wall Street’s best bets early in 2016
Gold futures stretch win streak to five sessions

Why is everyone freaking out about ‘CoCos’?
Convertible bonds are alluring as stocks fall

This stock market has been Europe’s best in 2016
Europe’s battles: migrants, ‘Brexit’ and ECB

Strategists are arguing that stocks need a true purge

A strand of Lennon’s hair is selling for $12,000

White House forecasts best growth in years
Obama proposes $4.1 trillion federal budget
/conga/frontpage.html 367537

Markets »

127.74MDow Volume:
Avg Vol: 130.29M
Unchanged
156
Decliners
4273
Advancers
2073
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,014 -13 0.08%
Nasdaq
/quotes/zigman/12633936/realtime 4,269 -15 0.35%
S&P 500
/quotes/zigman/3870025/realtime 1,852 -1 0.07%
GlobalDow
/quotes/zigman/629063/realtime 2,086 +1 0.07%
Gold
/quotes/zigman/33772884/delayed 1,189 -9 0.78%
Oil
/quotes/zigman/2260836/delayed 28.52 +0.58 2.08%
FTSE 100
/quotes/zigman/3173262/delayed 5,619 -13 0.23%
DAX
/quotes/zigman/2380246/delayed 8,908 +29 0.32%
CAC 40
/quotes/zigman/3173214/delayed 4,002 +4 0.10%
FTSE MIB
/quotes/zigman/1482176/delayed 16,067 +154 0.97%
IBEX 35
/quotes/zigman/2759620/delayed 7,974 +46 0.58%
Stoxx 600
/quotes/zigman/2380150/delayed 310 +1 0.20%
Asia Dow
/quotes/zigman/6959860/realtime 2,454 -17 0.69%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 23,700 -321 1.34%
Singapore
/quotes/zigman/1709939/delayed 2,574 -49 1.87%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.29%
Yen
/quotes/zigman/16008150/realtime/sampled 114.72 -0.40 0.35%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.10%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.24%
DXY Index
/quotes/zigman/1652083/delayed 96.05 -0.01 0.01%
WSJ $ Idx
/quotes/zigman/41508961/realtime 89.20 -0.08 0.09%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.74 +0.01 0.74%
German 10y
/quotes/zigman/15866409/realtime 0.25 +0.01 4.45%
Italy 10yr
/quotes/zigman/15866497/realtime 1.64 -0.05 2.86%
Spain 10yr
/quotes/zigman/15866444/realtime 1.68 -0.10 5.87%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.43 +0.02 1.26%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 +0.03 148.02%
Crude Oil
/quotes/zigman/2260836/delayed 29 +1 2.08%
Gold
/quotes/zigman/33772884/delayed 1,189 -9 0.78%
Corn
/quotes/zigman/25518691/delayed 360 -1 0.28%
DJIA F
/quotes/zigman/48241424/delayed 15,968 +9 0.06%
S&P F
/quotes/zigman/43106711/delayed 1,851 +3 0.14%
Silver
/quotes/zigman/32655632/delayed 15 0 1.48%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 99.54 -0.21 -0.21%
AAPL /quotes/zigman/68270/composite 94.99 -0.02 -0.02%
GOOG /quotes/zigman/59527964/composite 678.11 -4.63 -0.68%
BAC /quotes/zigman/190927/composite 12.20 -0.07 -0.57%
C /quotes/zigman/5065548/composite 37.51 -0.30 -0.79%
F /quotes/zigman/264304/composite 11.35 -0.24 -2.07%
T /quotes/zigman/398198/composite 36.65 -0.46 -1.24%
BP /quotes/zigman/247026/composite 28.95 -0.97 -3.24%
GE /quotes/zigman/227468/composite 28.28 0.11 0.39%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.26% 15.26% 15.27%
Reward 15.28% 15.28% 15.14%
Instant Approval 18.21% 18.21% 18.00%
Bad Credit 22.88% 22.88% 22.73%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
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X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

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  • Personalized news and quote email alerts
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