Calculating Social Security Spousal Benefits with Dual Entitlement

In today's video I'm covering calculating the spousal benefit for a spouse who also has their own benefit. This is important to understand because your own benefit and your spousal payment are NOT calculated the same when it comes to reductions for filing early or increases for filing later.

RESOURCES:
My video on Spousal Benefits
   • Social Security Spousal Benefits: The Comp...  

Congressional Research Service “Social Security Dual Entitlement”
https://crsreports.congress.gov/produ...

Entire POMS Chapter on Computation of Monthly Benefits
https://secure.ssa.gov/apps10/poms.ns...

Dual Entitlement
https://secure.ssa.gov/apps10/poms.ns...

“A RIB is figured independently of any past or present spouse's benefit reduction except if DIB is involved”
+
“The amount payable as a spouse will be the difference between the spouse's benefit and the RIB.”
https://secure.ssa.gov/apps10/poms.ns...

The big chart on benefit reductions
https://secure.ssa.gov/apps10/poms.ns...

The SSA quick calculator on early retirement spousal benefits.
https://www.ssa.gov/oact/quickcalc/sp....


🔥🔥 Get the Ultimate Social Security Cheat Sheet! It takes the essential information from the 100,000 page Social Security website and condenses it down to just one page! 🔥🔥

📍We can show you how to retire with confidence! 📍In our Retirement Roadmap plan, we can help make your retirement savings last longer and reduce your taxes by coordinating your Social Security filing strategy, retirement account withdrawals, and Roth conversions. 📞Schedule your call and see if this plan is a fit for you. https://www.devincarroll.com/roadmap

🎤 If you're preparing for retirement or already enjoying it, you'll definitely want to catch my podcast, Big Picture Retirement. Your retirement's success hinges on seeing the "big picture" and tying together your legal, tax, and financial strategies. On the show, we dive deep to offer insights on effective planning, and I'm joined by my co-hosts - attorney John Ross and yours truly, financial planner Devin Carroll. https://www.bigpictureretirement.com/

➡️ Want to hire Devin and his team? -- https://www.carrolladvisory.com

Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn:
✔The Most Important Factors to Consider BEFORE You File for Benefits
✔How to Coordinate Your Social Security Filing Decision with Your Other Assets & Income for a Tax Efficient Distribution Strategy
✔Why This Is The Biggest Decision of Your Retirement

Access the workshop today at this link
https://www.devincarroll.com/SSessent...

➡️ Get a copy of my best-selling book, Social Security Basics, here -- https://amzn.to/2twsABZ

➡️ Social Security Questions? Join my FREE Facebook Group!   / 428684237572614  

📜 HEAR YE HEAR YE: Some of my videos contain links to third party products, apps, and services. If you click through, I may receive a small referral fee to my media company (Carroll Media Properties) through their referral program. Rest assured, I only recommend products or services that I believe will be helpful and informative to my audience.

⭐⚠️⭐Please read this⭐⚠️⭐

⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government. I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
-----------------------------------------------------------------------------------------------------