The Unintended Consequences of Social Security’s Survivor Benefits- Season 5: Episode 2
You may have heard that Social Security provides a “survivor benefit,” which allows a surviving spouse to continue to receive their deceased spouse’s benefits. The original intention (back in 1940) was to ensure that widows would not be left without a Social Security payment.
Today, though, with many dual-working households (and thus two Social Security benefits), those same survivor benefit rules may actually cause the survivor to take a cut in benefits — in some cases, by nearly 50%.
How is that possible? And, even more importantly, how can you strategize to keep this from happening? Join show host/podcast moderator Johnny Dean and his guest, “Professor” Rick Plum, CFP®, as they discuss ways to potentially mitigate what has turned out to be an unintended consequence of Social Security’s survivor benefits on this week’s episode of Managing Your Financial Future.
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