Social Security Planning * Can a spouse receive spousal benefits based on their spouse's work record?* Do divorced spouses have rights to receive benefits based on their ex-spouse's work record?* What happens if I go back to work once I start receiving benefits?* Are there survivor benefits for spouses and dependents?* When can dependent children receive benefits?* What happens if I worked in both the private and public sector? Research has shown that roughly 10,000 people in the U.S. will turn 65 each day through 2029¹, Every Day! But unless you are seeking reduced Social Security Benefits, you cannot receive full benefits until you reach your Full Retirement Age, which is 66 for those born between 1943 and 1954. As fewer retirees have the luxury of defined pension plans (guaranteed payments from ex-employers), more emphasis is placed on Social Security benefits as a secure source of retirement income. Financial planning for social security involves maximizing the income benefits by choosing the optimal claiming strategy for individuals and couples.The basic decisions involving your Social Security benefits may be straightforward enough, but in some cases, thoughtful planning may create substantial lifetime savings. The list below will describe in more detail some of the more common issues involving Social Security:Click To Learn More:Spousal BenefitsSurvivor BenefitsDivorced SpousesDelayed Retirement CreditsDependent BenefitsDisability BenefitsEarly FilingEarnings Cap PenaltyFile and SuspendFull Retirement Age/ Primary Insurance AmountRestricted Spousal BenefitsWorking for both Private and Public Employers ¹ Social Security Administration Carr Wealth Management, LLC, specializes in helping people pursue their financial goals with knowledge-driven solutions, not product-driven. Anthony Carr, CPA, CFP®, owner, has dedicated his career to helping people make better financial decisions. An area such as Social Security requires knowledge in various financial areas, including taxes. The decisions made today involving your social security can have an impact on future monthly income for the next twenty to thirty plus years. If what you are seeking is an hourly-fee service that can provide quality advice in small projects (one or two hours) to longer more comprehensive planning, please contact us to schedule an appointment or if you have a question about our services.Our site is filled with educational videos, articles, and calculators designed to help you learn more. As you search our site, send me a note regarding any questions you may have about any particular investment concepts or products. We'll get back to you quickly with a thoughtful answer.