When the program was created in 1937, Social Security planning was largely based on family needs. The original program focused on benefits to primary wage earners and their spouses and children.

Almost 100 years later, the world is a much different place, and Social Security planning has evolved accordingly. While the family dynamic remains intact, Social Security benefits are now oriented more toward the individual. Single, divorced, and widowed people must employ different strategies after they retire.

Social Security planning is only part of one’s overall retirement strategy, along with IRAs and health savings accounts. However, it’s still important to get the most out of the program and the benefits it provides. Here are a few essential elements of Social Security planning for single, widowed, and divorced people.

Social Security Planning for Single People

Some single people don’t wait to start drawing on their Social Security benefits—they begin taking disbursements as soon as they qualify at age 62. There may be good reasons for taking payments before age 70, including health and income factors.

Whenever possible, however, it’s advantageous to delay withdrawals until you turn 70. That’s because Social Security benefits increase by 8% every year between ages 65 and 70, primarily to make up for the rising costs of living and inflation.

For example, consider a 66-year-old whose estimated Social Security payment is $2,000. If they started taking payments as soon as possible, they would receive fewer benefits than if they waited until 66. But if they delay withdrawals until age 70, they’ll get more:

If you start collecting benefits at age…	Your monthly payout would be…
62	$1,500
66	$2,000
70	$2,640

The information contained above is for illustrative purposes only.

Again, there may be circumstances beyond one’s control that may make it difficult to delay benefits. Those in poor health may be compelled to start taking benefits right away to cover immediate expenses. Others may need benefits to replace income from lost jobs, underemployment, or concerns about the state of the Social Security system.

The Social Security planning you do as a single person should conform to your life situation. Take stock of your immediate and long-term future when deciding how to draw on your benefits.

Social Security Planning for Divorced People

One often-overlooked component of the Social Security system is a boon to divorced people: the ability to claim an ex-spouse’s benefits.

As long as your marriage lasted at least 10 years before divorce, you’re allowed up to 50% of your former spouse’s Social Security benefits, even if you don’t qualify for benefits on your own. If you do qualify, you’re entitled to receive 100% of your entire benefit amount or 50% of your ex’s, whichever amount is higher.

If your ex-spouse has died, you can still receive 100% of their payout benefits—with a catch. If you remarry before age 60, you won’t qualify for your ex-spouse’s Social Security benefits. However, if your second marriage ends in divorce or your spouse’s death, you’ll again be eligible for your first spouse’s benefits.

Social Security Planning for Widowed People

Similar to divorced individuals, widows are eligible for survival benefits if the marriage lasts at least 10 years and they don’t remarry before 60.

Like regular payments, if a widow draws on Social Security before full retirement age, they’ll get reduced benefits. However, they don’t have to wait until they turn 70 to get the maximum payout available to them:

Widow Type	Benefit Amount Before Retirement Age	Benefit Amount at Full Retirement Age
Widow	71.5%–99% (starting at age 60)	100%
Disabled Widow	71.5% (starting at age 50)	100%
Widow With Child Under 16	75% (at any age)	100%

The information contained above is for illustrative purposes only.

Get Professional Help With Social Security Planning

Social Security planning can be difficult for singles, divorcees, and widows to handle on their own. Fortunately, you don’t have to.

If you don’t yet have a financial partner in your corner, I’m here to help. I care deeply about safeguarding and growing my clients’ wealth; I genuinely want to help them with their finances so they can focus on their passions (not their money) without worry. Blair Capital Management, a financial advising firm based in Norwalk, CT, can offer valuable guidance on the rules and regulations of Social Security so you can build an effective financial strategy.

To learn more, call (914) 413-9904 or email johnblair@blaircapitalmgt.com. You can also schedule an appointment with me here via Calendly.

About John

John Blair is President and Founder at Blair Capital Management, LLC, a Registered Investment Advisor (RIA) that endeavors to offer personalized service and customized investment solutions to individuals, trusts, and high-net-worth investors. After over 40 years of experience in the financial markets, John has had a front-row seat for every bull and bear market and wants to offer his experience, knowledge, and skills to individuals rather than institutions. With an unwavering dedication to acting as a fiduciary and a desire to build long-term, successful relationships, John helps his clients pursue their financial objectives. He cares deeply about safeguarding and growing their wealth, so they can focus on their lives—not their money. He strongly believes in a disciplined approach to investing with paramount importance placed on preservation of capital and measuring risk and reward through all circumstances.

John holds a bachelor’s degree in economics and master’s degree in business administration from the University of Southern California, and also completed graduate work in economics and philosophy. John and his wife of 45 years have four grown children and 13 grandchildren. In his spare time, he loves to read biographies and books about history and finance, and is a huge horse racing and football fan. John cheers for everything University of Southern California, and has been very involved in alumni affairs and mentoring students.

Blair Capital Management LLC (Blair Capital) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Blair Capital and its representatives are properly licensed or exempt from licensure.

 The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.

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