allworth-financial-logo-color
    • Wealth Management
      • Financial Planning
      • Investment Management
      • Tax Planning
      • Estate Planning
      • Insurance Services
    • 401(k) For Employers
    • For Airline Employees
    • Our Approach
    • Why People Work With Us
    • Office Locations
    • FAQs
    • Our Fees
    • Our Story
    • Advisors
    • Our Leadership
    • Advisory Firm Partnerships
    • Allworth Kids
    • Webinars & Events
    • Podcasts
    • Financial Planning
    • Investment Management
    • Tax Planning
Meet With Us
  • Locations
  • Login
  • Contact

Social Security questions few people think to ask

  • Share this post

Allworth Co-CEO Scott Hanson reminds you about some key Social Security considerations you need to make before filing - specifically if you're married (or have ever been married).   

 

Information about Social Security? Some people just can’t seem to get enough of it.

How so?

Of all the hundreds of retirement planning workshops we’ve hosted over the last 27 years, our workshops that focus on Social Security are among the most highly attended.

And in meetings with clients? Social Security is (rightfully so) a recurring topic.

That’s because, almost until the very day you file, your specific payment amount (and even the solvency of the program) remain moving targets.   

When I work with a client to build their retirement plan based on things like their other assets, income, and life expectancy, we map out numerous Social Security strategies to calculate the optimum time to file.

Important factors such as whether you have a spouse, ex-spouse, deceased spouse, or dependents only make those calculations more detailed and the decision-making process that much more important.  

Understandably, folks can get so caught up in wanting to calculate the maximum benefit amount that many never learn about some of the lesser-known Social Security eligibility requirements that could impact not only them, but also the people they love.

While I couldn’t possibly do a comprehensive analysis of all the variables (that you could read in a lifetime), here are some key-but-often-overlooked eligibility facets of Social Security that, if any might possibly apply to you, should be explored with your advisor.

How long do you need to be married to someone to collect Social Security off of their work history?

This is important because, frankly, more than at any time in history, people marry and divorce and then remarry later in life.

So, when are you eligible to receive Social Security based on your new spouse’s work history?

This standard is surprisingly easy to meet. 

Typically, you need to be married to someone for about a year to be eligible to collect benefits from their work record. (You can put the application in prior to a full year so long as the one-year mark comes before the Social Security Administration processes the application.)

And for those younger readers, Social Security will usually waive the one-year requirement if you’re both the biological parents of a child.

Which brings me to benefits eligibility for the survivors of a Social Security recipient.

Social Security payment amounts are typically calculated based on a person’s work history (i.e. duration, career income).

Most people know that.

And while a great safety net, survivor’s benefits are only paid out when certain criteria are met.

While Social Security (created in 1935) is understandably thought of as a retirement program, survivor’s benefits were later added in 1939 as a form of life insurance to support spouses and dependents in the event of the worker’s death. (Survivor’s benefits can cover spouses, ex-spouses (potentially), children and even dependent parents.)

So, who specifically is eligible?

  • Survivor’s benefits for spouses. If you are the widow (or widower) of a deceased worker, you might be eligible for a full benefit amount when you reach your full retirement age. As a survivor, you can potentially receive benefits as early as age 60 (age 50, if you are disabled), but the amount will be reduced.
  • Survivor’s benefits for children. Unmarried children under the age of 18 (or 19 years of age if they are in school full time) are also potentially eligible.    
  • Survivor’s benefits for dependent parents. While all these eligible parties are deserving, this is one of the lesser known potential beneficiary groups - and it always makes me think just a bit more highly of the Social Security system. Dependent parents who are at least 62-years old and who relied on the worker for at least 50% of their life support are eligible.
  • Survivor’s benefits for divorced spouses. Another potential Social Security survivor’s benefits recipient is ex-spouses. If you are age 60 or older, you are typically eligible if you were married to the worker for at least 10 years. 

Can getting married a second (or third) time "mess up" your Social Security payout?

This is a big YES.

If you are divorced, and you were married to someone for 10 years or more, you can usually collect Social Security on your ex’s record.

And your ex never even has to know. (Not that they should care, as it doesn’t impact them in the least.)

However, it’s when you remarry that the sanctity of your Social Security payout comes into question.

That’s because (typically) if you remarry you are no longer eligible to collect benefits on your ex-spouse’s record, potentially placing you in a gray-area that could drastically reduce your future retirement income if your new spouse has a different work history.

With the divorce rate for people over the age of 50 having doubled in the last quarter century, this represents just one more reason why having a plan is important. 1  

If you were married for at least 10 years, and you are 62 (or older), you almost certainly qualify for a Social Security payment that equates to 50% of your ex’s payment amount.

That is why, purely from a financial perspective, depending on your other income and asset factors, it can pay to not get remarried. Although, if you do remarry, and you get divorced, or, unfortunately, your spouse dies, you can often still collect a payout based on your first spouse’s record.

So, I hate to be cynical, especially about marriage, but these considerations matter. That’s because having enough money during retirement is a big deal.

Simply, when it comes to Social Security and marriage, hitting that 10-year mark is key.

As a sidelight, isn’t it amazing to consider that someone you may have gotten divorced from over 30 years ago might still contribute tens of thousands of dollars to your retirement? (And you thought that marriage was a mistake!)

Social Security. It’s complex and ever-changing. I urge you to never make any decisions about it without first carefully reviewing them with your advisor.

 

1 https://www.cnbc.com/2018/01/26/how-getting-married-can-mess-up-your-social-security.html

   

Give yourself an advantage. Sign up to receive monthly insights from our Chief Investment Officer, and be the first to know about upcoming educational webinars. You'll also get instant access to our retirement planning checklist.

Related Articles
See more articles
February 29, 2024 Working while claiming Social Security? Don’t get caught off guard

Allworth co-founder Scott Hanson helps to explain a complicated Social Security rule that can impact those who are claiming a benefit while still …

Read Now
October 26, 2023 10 fast facts about Social Security

Allworth Co-CEO Scott Hanson shares 10 things you may not know about Social Security.

Read Now
July 06, 2023 3 ways to boost your Social Security payout

Allworth Co-CEO Scott Hanson shares three reminders about how Social Security works so you can take advantage to the fullest. I recently viewed a …

Read Now
Allworth Financial logo
Talk with an Advisor Contact us
  • Services
    • Wealth Management
    • 401(k) For Employers
    • For Airline Employees
  • Working With Us
    • Why People Work With Us
    • Office Locations
    • FAQs
    • Our Fees
    • Client Login
  • About Us
    • Advisors
    • Our Leadership
    • Advisory Firm Partnerships
    • Allworth Kids
    • Careers
    • Form CRS
  • Insights
    • Workshops & Events
    • Podcasts
    • Financial Planning
    • Investment Management
    • Tax Planning

Newsletter

Subscribe to receive monthly insights from our Chief Investment Officer, and be the first to know about upcoming educational webinars.

©1993-2025 Allworth Financial. All rights reserved.
  • Privacy Policy
  • Disclosures
  • Cookie Preferences
  • Do Not Sell or Share My Personal Information

Advisory services offered through Allworth Financial, a Registered Investment Advisor

Securities offered through AW Securities, a Registered Broker/Dealer, member FINRA/SIPC. Check the background of this firm on FINRA's BrokerCheck.

HMRN Insurance Agency, LLC license #0D34087

Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Allworth is engaged, or continues to be engaged, to provide investment advisory services.  Rankings should not be considered an endorsement of the advisor by any client nor are they representative of any one client’s evaluation or experience. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized advisor.  Therefore, those who did not submit an application for consideration were excluded and may be equally qualified.

1.  Barron’s Top 100 RIA Firms: Barron’s ranking of independent advisory companies is based on assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms who wish to be ranked fill out a comprehensive survey about their practice. Allworth did not pay a fee to be considered for the ranking.  Allworth has received the following rankings in Barron’s Top 100 RIA Firms: #14 in 2024, #20 in 2023 and #31 in 2022. #23 in 2021, #27 in 2020.

2.  Retention Rate Source: Allworth Internal Data, FY 2022

3 & 9.  NBRI Circle of Excellence and Best in Class Ethics:  National Business Research Institute, Inc. (NBRI) is an independent research firm hired by Allworth to survey our customers. The survey contains eighteen (18) scaled and benchmarked questions covering a total of seven (7) topics, and a range of additional scaled, multiple choice, multiple select and open-ended question and is deployed biannually. NBRI compares responses across its company universe by industry and ranks the participating companies in each topic. The Circle of Excellence level is bestowed upon clients receiving a total company score at or above the 75th percentile of the NBRI ClearPath Benchmarking database.  Allworth’s 2023 results were compiled from 1,470 completed surveys, with results in the 92nd percentile. Allworth pays NBRI a fee to conduct the survey.

4.  As of 1/1/2025, Allworth Financial, an SEC registered investment adviser and AW Securities, a registered broker/dealer have approximately $26 billion in total assets under management and administration.

5.  Investment News Best Places to Work for Financial Advisors:  Investment News ranking of Best Places to Work for Financial Advisors is based on being a United States based Registered Investment Adviser with a minimum of 15 full or part-time employees working in the United States and having been in business for over a year.  Firms who meet Investment News’ criteria fill out an in-depth questionnaire and employees were asked to take part in a companywide survey.  Results of the questionnaire and employee surveys were analyzed by Investment News to determine recipients.  Allworth Financial did not pay a fee to be considered for the ranking.  Allworth Financial has received the ranking in 2020 and 2021.

6.  2021 Value of an Advisor Study / Russel Investments

7.  RIA Channel Top 50 Wealth Managers by Growth in Assets:  RIA Channel’s ranking of the Top 50 Wealth Managers by Growth in Assets is based on being an active Registered Investment Adviser with the Securities and Exchange Commission with no regulatory, criminal or administrative violations at the time of the ranking, provide wealth management services as their primary business and have a two year growth rate of 30% based on assets reported on Form ADV Part 1 at the time of ranking.  Allworth Financial did not pay a fee to be considered for the ranking.  Allworth Financial received the ranking in 2022.

8.  USA Today Best Financial Advisory Firms: USA Today’s ranking of Best Financial Advisory Firms was compiled from recommendations collected through an independent survey and a firm’s short and long-term AUM growth obtained from public sources. Allworth Financial did not participate in the survey, as self-recommendations are prohibited from consideration, and all surveyed individuals were selected at random. Allworth Financial did not pay a fee to be considered for the ranking. Allworth Financial received the ranking in 2024.

Tax services are provided by Allworth Tax Solutions, an affiliate of Allworth Financial. Allworth Financial does not provide tax preparation services or advice.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Important Information

The information presented is for educational purposes only and is not intended to be a comprehensive analysis of the topics discussed. It should not be interpreted as personalized investment advice or relied upon as such.

Allworth Financial, LP (“Allworth”) makes no representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of the information presented. While efforts are made to ensure the information’s accuracy, it is subject to change without notice. Allworth conducts a reasonable inquiry to determine that information provided by third party sources is reasonable, but cannot guarantee its accuracy or completeness. Opinions expressed are also subject to change without notice and should not be construed as investment advice.

The information is not intended to convey any implicit or explicit guarantee or sense of assurance that, if followed, any investment strategies referenced will produce a positive or desired outcome. All investments involve risk, including the potential loss of principal. There can be no assurance that any investment strategy or decision will achieve its intended objectives or result in a positive return. It is important to carefully consider your investment goals, risk tolerance, and seek professional advice before making any investment decisions.