This Social Security Spousal Rule Is Officially Finished in 2024 — But These 3 Strategies Remain

A longstanding Social Security spousal rule concludes this year for most individuals, except those who turned 70 on Jan. 1, 2024. The rule, permitting recipients to switch between their benefits and their spouse’s for maximum payouts, has been a strategy in place for decades. Under this now-expired rule, the higher-earning spouse would claim spousal benefits at full retirement age, subsequently switching to their own benefits at age 70. This approach maximized monthly Social Security payments due to delayed retirement credits. However, individuals born after Jan. 1, 1954, are no longer eligible to utilize this strategy.

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Source Article: https://www.gobankingrates.com/retirement/social-security/this-social-security-spousal-rule-officially-finished-in-2024-these-strategies-remain/

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