3 Unique Benefits From Social Security, You Should Not Avoid To Know!


Is your spouse receiving Social Security benefits? Have you lost your partner? Are your children young? Do you have a thought of going back to work after the early retirement in your mind but are frightened your Social Security check will acquire a big hit? If these questions are boggling your mind, then don’t panic, there is some good news for you.

Of course, Social Security is one of the hottest topics among those people who are approaching their retirement very soon. There are more than 2700 separate rules that control Social Security, this is the main reason why such retirement-based Social Security benefits are very confusing. Many times, a person may be challenged by the decision of when to claim these benefits and take the leap.

So, we will proceed towards knowing some interesting facts related to Social Security benefits, which could pose a great influence on your retirement decisions, go through them carefully:


Benefits Withheld because of having in employment while receiving them early are not gone always

It is known to many people that when they are going to claim their retirement benefits from Social Security before reaching complete retirement age that is 66 results in a reduction in benefits permanently, especially for baby boomers. Additionally, claiming benefits prior to the age of 66 years and deciding to work further can also decrease them. At that time, they make a big mistake, they do not understand that benefits that are withheld because they are working, are not lost forever. Instead, these benefits are paid back over many years once he or she completes the retirement age.

It means that an individual who wants to take Social Security benefits at the age of 62 years can also work. But they should be familiar with the fact that they will have $1 in SS benefits withheld for every $2 earned by them once they earn more than $17,640 in one year.
Now, they can get their withheld benefits after reaching the full retirement age. The benefits on a monthly basis are recalculated to reimburse the amount suspended during those employment years. As a result, the Social Security checks for every month will get bigger.

Your spouse, young children can also collect Social Security benefits if you are actually receiving

In the case of a family, breadwinner dies or experiences some sort of disability, then children can get money from Social Security. But some people may mislead with improper information, which is that when an individual files an application for Social Security benefits, a partner younger than 62 and the young children of a couple can take advantage of the Social Security benefits as well.

The SS benefits for the young child and partner are calculated on the basis of the full retirement age benefit of the superannuated employee. If a retired person’s age is 66 and his Social Security benefit at this age is $1,333 per month, then his child and spouse can receive up to $667 individually. A young child will only receive the benefits until he or she is below 18 years, not married and is also the dependent teen-ager of a parent who is getting the retirement benefits of Social Security.

According to the law, there is another twist, which is that there is maximum money each family can get that essentially runs between 150-180% of the husband benefit for every month. It states that if a father gets $1,333 per month, the child and spouse would get less than this amount individually. However, they are still qualified for some benefits.
However, these Social Security benefits do not go with them always, of course, these benefits also have some drawbacks. The benefits for a mother stop when her young child turns 16 and when it comes to the child’s benefits, it will get stopped when he or she reaches the age of 18 years or, if still studying in high school, in a college, or 2 months after reaching the age of 19, whichever comes sooner.

Widowed people can also, carry on to get payments even after remarrying

The third unknown fact to people getting Social Security benefits or interested in claiming these benefits is that if they are widowed and then have remarried again, then they can also keep on having those payments. If a husband is significantly older than the wife, then she can plan for her future. In the case when will pass away first, along with his inheriting investments, then she can also start receiving survivor Social Security benefits.
Moreover, if she decides to remarry after the age of 60, then she will not suffer from any financial loses. In this condition, she can keep on having the Social Security amount every month, as it is the rule made by Social Security. According to this rule, she is eligible for survivor benefits and she can continue with them if her remarriage occurs after 60 years.
These are some facts that a person having retirement benefits from Social Security does not know. This is why most of them get misinformed and never obtained the merit of these benefits in their entire life.
Final verdict
In the operations manual by Social Security, there are some guidelines that are buried in it. According to those guidelines, there are lots of nuances that can provide with attractive and lucrative benefits to those who are eligible. In the case, if your family situation experiences disability, death, or the retirement of an individual who got paid by the system of Social Security, then you need to make sure you know such guidelines, leaving no benefits at all.
It is important to double-check that you or your special ones gather all the Social Security benefits they are permitted to. Who knows whether he or she may be allowed to get tens of thousands or hundreds of thousands of dollars as a part of additional Social Security benefits over your lifespan? Hence, be a smart person and keeps your eyes open in such situations.