I’m Getting a Divorce. Will This Impact My Social Security Benefits?

If you are getting a divorce, you may be wondering about the consequences to your Social Security benefits. If you’ve been married for 10 years or more, you’ll have more options than someone who has been married for less than 10 years.

You always have the option of receiving your own Social Security benefits—those that are based on the wages that you earned throughout your career. Another option is to receive a 50% spousal benefit, and that means that you would look at the benefit amount of your spouse or ex-spouse, and you would qualify for 50% of theirs. Now, it won’t reduce their benefit. You’re just receiving a 50% value.

So you have the choice of choosing your own benefits or theirs as long as you were married for at least 10 years.

Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor serving the greater Sacramento area with an office in Roseville, CA. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country's leading professional association of fee-only financial advisors.