Question: I have been married three times — for 13 years to the first husband, for 12 years to the second and six years to the third. I am currently single, receiving ex-widow benefits from my second, who is deceased, and I am working a full-time and part-time job. I am 61 years old now. What would you recommend I do when I decide to retire and what will my benefit options be?
Answer: Paul Solman, Phil Moeller and I discuss this kind of situation in detail in our new book “Get What’s Yours — The Secrets to Maxing Out Your Social Security Benefits.”
You need to keep an eye on whether the first ex is still alive because if he dies, you may be able to collect an even larger divorced widow’s benefit on his work record. If you wait until 70 to collect your own retirement benefit, it may exceed your divorced widow’s benefit, in which case your monthly payment will rise. This said, precisely what you should do depends on the size of your own retirement benefit compared to your current divorced widow’s benefit, as well as the size of the potential divorced widow’s benefit on your first spouse and his maximum age of life. I’d have to know these details before making any specific suggestions.
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