Social Security: Will You Get the Survivor Benefits You Deserve?

Social Security is a key benefit for retirees after they quit work. But it's also an essential part of financial planning for survivors after their spouses pass away. It's important to get the information you need to make an informed decision about survivors' benefits under Social Security.

In this installment of our Social Security Q&A series, Dan Caplinger, The Motley Fool's director of investment planning, answers a question from David, who asks about the details of widow and widower benefits. Dan confirms that surviving spouses are eligible to receive benefits at age 60, but you'll take an almost 30% haircut on your survivors' benefits if you do so compared to waiting until full retirement age. In addition, Dan goes through the ins and outs of how to coordinate survivors' benefits with Social Security payments based on your own work history, noting that in some cases, delaying your own benefits can lead to greater lifetime total payments than switching to your own benefit at age 62. Dan recommends visiting the Social Security Administration website's section on survivors' benefits as a smart resource for planning for retirement.

How to get even more income during retirement
Social Security plays a key role in your financial security, but it's not the only way to boost your retirement income. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today.

Have general questions about Social Security? Email them to, and they might be the subject of a future video!

The article Social Security: Will You Get the Survivor Benefits You Deserve? originally appeared on

Dan Caplinger has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story