March 23, 2025. Welcome everybody to the Women and Money podcast, as well as everybody smart enough to listen. Suze O here.

March 23, 2025. Welcome everybody to the Women and Money podcast, as well as everybody smart enough to listen. Suze O here.

And for those of you who are new and you're wondering what is this podcast all about?

And for those of you who are new and you're wondering what is this podcast all about?

It's very simple. It's a podcast that tackles your fears and puts you in control of your financial future, just that simple. And on Sundays, which today happens to be, we have Suze School. So if I were you, I would definitely get out my pen and paper, or you can do a pencil if you want.

It's very simple. It's a podcast that tackles your fears and puts you in control of your financial future, just that simple. And on Sundays, which today happens to be, we have Suze School. So if I were you, I would definitely get out my pen and paper, or you can do a pencil if you want.

Because you're going to have a quiz today, 35 questions on a topic I've picked for you.

Because you're going to have a quiz today, 35 questions on a topic I've picked for you.

But before I do that, I do want to talk to you about one of your greatest questions lately, or should I say your greatest fear, which is Suze, are they going to cut Social Security? What's going to happen to Social Security? Suze, I can't afford it. They can't cut my Social Security. It's all the money that I have. Slow down and relax.

But before I do that, I do want to talk to you about one of your greatest questions lately, or should I say your greatest fear, which is Suze, are they going to cut Social Security? What's going to happen to Social Security? Suze, I can't afford it. They can't cut my Social Security. It's all the money that I have. Slow down and relax.

Everything that's happening currently

Everything that's happening currently

with Social Security is about them cutting people working for Social Security, cutting staff, closing offices. There has been no talk at all

with Social Security is about them cutting people working for Social Security, cutting staff, closing offices. There has been no talk at all

about cutting benefits. Now, does that mean in the future there won't be some talk about rearranging benefits just like they did, I think it was in 1983 when they raised the full retirement age from 65 to 67. Do you remember that? But all of you already receiving benefits, your benefits weren't cut. It was for future years, future people.

about cutting benefits. Now, does that mean in the future there won't be some talk about rearranging benefits just like they did, I think it was in 1983 when they raised the full retirement age from 65 to 67. Do you remember that? But all of you already receiving benefits, your benefits weren't cut. It was for future years, future people.

So I would imagine that that is a probability. I have no doubt that they're going to raise the full retirement age, possibly to 70 from 67.

So I would imagine that that is a probability. I have no doubt that they're going to raise the full retirement age, possibly to 70 from 67.

And that you have until 73 with delayed benefits to collect Social Security.

And that you have until 73 with delayed benefits to collect Social Security.

I'm sure that they'll probably raise and they should, the income that everybody pays because right now there's an income limit and after that limit you don't pay Social Security tax anymore. They should just make that unlimited, that you all pay Social Security tax no matter how much money you make and that way that would help fund the system.

I'm sure that they'll probably raise and they should, the income that everybody pays because right now there's an income limit and after that limit you don't pay Social Security tax anymore. They should just make that unlimited, that you all pay Social Security tax no matter how much money you make and that way that would help fund the system.

But stop worrying about it right now anyway, OK. However, a few suggestions, which is they are obviously going to make it more difficult for you to call into the Social Security office. You're going to have to either go online or go in in person. So if you're older and you need to contact them

But stop worrying about it right now anyway, OK. However, a few suggestions, which is they are obviously going to make it more difficult for you to call into the Social Security office. You're going to have to either go online or go in in person. So if you're older and you need to contact them

and you're not online savvy. Do you have a little niece or nephew or grandson or daughter or somebody who has a little portable computer that when you want to contact Social Security, maybe they can come over to your house and then you can just ask what you want or make a claim or whatever that may be.

and you're not online savvy. Do you have a little niece or nephew or grandson or daughter or somebody who has a little portable computer that when you want to contact Social Security, maybe they can come over to your house and then you can just ask what you want or make a claim or whatever that may be.

So I would be making plans for that right now if I were you, especially if you haven't claimed Social Security yet.

So I would be making plans for that right now if I were you, especially if you haven't claimed Social Security yet.

Next, I would all ask for or get my Social Security statements. I would want to know exactly where I stand, what is projected. I would want to have a record of it, not just online. I want a printed record of it cause you just never know, not that I'm being paranoid, but you never know when records will disappear.

Next, I would all ask for or get my Social Security statements. I would want to know exactly where I stand, what is projected. I would want to have a record of it, not just online. I want a printed record of it cause you just never know, not that I'm being paranoid, but you never know when records will disappear.

And all of a sudden all that information is gone and then what happens? It's just that you need to protect yourself in those ways. The other way, everybody, you really need to protect yourself is to truly know and understand how Social Security works, because more important really,

And all of a sudden all that information is gone and then what happens? It's just that you need to protect yourself in those ways. The other way, everybody, you really need to protect yourself is to truly know and understand how Social Security works, because more important really,

than what they're doing, cause they don't know what they're doing right now and everything, it's your own knowledge. I've told you this forever. It's your own knowledge and your own actions.

than what they're doing, cause they don't know what they're doing right now and everything, it's your own knowledge. I've told you this forever. It's your own knowledge and your own actions.

That will keep you safe and secure as best you can.

That will keep you safe and secure as best you can.

But the problem is most of you do not have an idea how Social Security works or the little intricacies of it. So I have 35 questions that I have prepared for you, all true or false, on Social Security. The first 15 are questions that kind of apply to everybody that you should just know.

But the problem is most of you do not have an idea how Social Security works or the little intricacies of it. So I have 35 questions that I have prepared for you, all true or false, on Social Security. The first 15 are questions that kind of apply to everybody that you should just know.

And the next 20 is really all about spousal and survivor benefits, cause that's where most of you get confused. And for those of you who are younger and listening to this right now, listen to me. Your parents may not know what they're doing. Your grandparents may not know what they're doing, so you need to know all this so you can help them just in case. All right, everybody ready?

And the next 20 is really all about spousal and survivor benefits, cause that's where most of you get confused. And for those of you who are younger and listening to this right now, listen to me. Your parents may not know what they're doing. Your grandparents may not know what they're doing, so you need to know all this so you can help them just in case. All right, everybody ready?

Number one:

Number one:

Your monthly Social Security benefit increases by 8% each year you delay claiming it beyond your full retirement age up to age 70. So currently, full retirement age for most people happen to be 67.

Your monthly Social Security benefit increases by 8% each year you delay claiming it beyond your full retirement age up to age 70. So currently, full retirement age for most people happen to be 67.

So you get an 8% increase every year of that benefit up to the age of 70, true or false.

So you get an 8% increase every year of that benefit up to the age of 70, true or false.

So the answer to that is true, and you better keep track of how many you get right and wrong. Again, these are called delayed retirement credits.

So the answer to that is true, and you better keep track of how many you get right and wrong. Again, these are called delayed retirement credits.

2:

2:

Social Security benefits are never taxable regardless of your income.

Social Security benefits are never taxable regardless of your income.

The answer to that is false. It is possible, everyone, that up to 85% of your benefits may be taxable depending on your income or combined income if you happen to be married. All right.

The answer to that is false. It is possible, everyone, that up to 85% of your benefits may be taxable depending on your income or combined income if you happen to be married. All right.

Next, cost of living adjustments, COLA are guaranteed every year on your Social Security.

Next, cost of living adjustments, COLA are guaranteed every year on your Social Security.

True or false, are your Social Security benefits guaranteed to go up every year by the cost of living adjustments?

True or false, are your Social Security benefits guaranteed to go up every year by the cost of living adjustments?

Believe it or not, that is false. COLA is not guaranteed, and it depends on inflation. That's what it depends on, but it's not guaranteed.

Believe it or not, that is false. COLA is not guaranteed, and it depends on inflation. That's what it depends on, but it's not guaranteed.

Your benefit amount is based on your highest

Your benefit amount is based on your highest

35 years of earned income adjusted for inflation.

35 years of earned income adjusted for inflation.

True or false.

True or false.

That is true.

That is true.

Only earnings on which you paid Social Security taxes are counted, but it's based on your highest 35 years of earned income.

Only earnings on which you paid Social Security taxes are counted, but it's based on your highest 35 years of earned income.

If you continue working after claiming Social Security and you are under full retirement age, remember, full retirement age is currently about 67.

If you continue working after claiming Social Security and you are under full retirement age, remember, full retirement age is currently about 67.

Your benefits might be reduced.

Your benefits might be reduced.

True or false

True or false

And the answer to that is true. Remember, everybody, there's an earnings test before your full retirement age that if you keep working can reduce your payments. They don't know what it is yet for 2025, but in 2024, if you made more than $22,320 a year

And the answer to that is true. Remember, everybody, there's an earnings test before your full retirement age that if you keep working can reduce your payments. They don't know what it is yet for 2025, but in 2024, if you made more than $22,320 a year

and you were under your full retirement age 67, then they will withhold $1 for every $2 of earnings above that amount.

and you were under your full retirement age 67, then they will withhold $1 for every $2 of earnings above that amount.

And then they do this crazy thing if you're still working one month before your full retirement age, then you can make this was 2024 again $59,200 something like that, and they will withhold $1 for every $3 that you've earned. Once you turn full retirement age, you can make as much money as you want, and there are no deductions whatsoever. The next question has to be,

And then they do this crazy thing if you're still working one month before your full retirement age, then you can make this was 2024 again $59,200 something like that, and they will withhold $1 for every $3 that you've earned. Once you turn full retirement age, you can make as much money as you want, and there are no deductions whatsoever. The next question has to be,

do you get that money back and you do, but not in a lump sum. They prorate it over your lifetime Social Security benefits, and I don't think you get back quite as much as they withheld, just so you know. All right.

do you get that money back and you do, but not in a lump sum. They prorate it over your lifetime Social Security benefits, and I don't think you get back quite as much as they withheld, just so you know. All right.

Once you start receiving Social Security, your benefits are fixed for life and will never increase.

Once you start receiving Social Security, your benefits are fixed for life and will never increase.

True or false,

True or false,

That's false. Remember they can increase through COLA,

That's false. Remember they can increase through COLA,

or it's possible you might be able to switch to a higher benefit like a survivor benefit. Just know that.

or it's possible you might be able to switch to a higher benefit like a survivor benefit. Just know that.

If you never worked or paid Social Security taxes.

If you never worked or paid Social Security taxes.

You are completely ineligible for any benefits, true or false.

You are completely ineligible for any benefits, true or false.

That's false, cause you might just qualify for a spouse's or ex-spouse's record. It doesn't matter if you didn't make any money at all. If you were married at least 10 years, then you can remember that, all right.

That's false, cause you might just qualify for a spouse's or ex-spouse's record. It doesn't matter if you didn't make any money at all. If you were married at least 10 years, then you can remember that, all right.

The earliest age that you can begin collecting retirement benefits is 62.

The earliest age that you can begin collecting retirement benefits is 62.

True or false, and that's true, but you got to remember the benefits are going to be permanently reduced if you take them before your full retirement age. I would not do that if I were you, all right.

True or false, and that's true, but you got to remember the benefits are going to be permanently reduced if you take them before your full retirement age. I would not do that if I were you, all right.

Now if you were born in 1960 or later, your full retirement age is 67.

Now if you were born in 1960 or later, your full retirement age is 67.

That is true.

That is true.

So, again, I mentioned that over the years, the full retirement age went from 65 to 67, and now everybody born after 1960, full retirement age is currently 67.

So, again, I mentioned that over the years, the full retirement age went from 65 to 67, and now everybody born after 1960, full retirement age is currently 67.

You can suspend your Social Security benefits.

You can suspend your Social Security benefits.

After full retirement age to allow them to grow.

After full retirement age to allow them to grow.

Remember, full retirement age is 67.

Remember, full retirement age is 67.

The answer to that is true.

The answer to that is true.

You can suspend your benefits all the way until you are age 70. That is those delayed retirement credits, and you will make 8% from 67 to 70 on those benefits.

You can suspend your benefits all the way until you are age 70. That is those delayed retirement credits, and you will make 8% from 67 to 70 on those benefits.

Social Security benefits are protected from garnishment under all circumstances.

Social Security benefits are protected from garnishment under all circumstances.

So can student loans come after you? Can federal debts or taxes? Can they be garnished everybody?

So can student loans come after you? Can federal debts or taxes? Can they be garnished everybody?

Or are they protected?

Or are they protected?

False. They can be garnished for things like federal debts, taxes, student loans, all those kinds of things. So don't think you're going to get out of it. Once you reach age 70, your Social Security benefits will automatically increase each year you delay filing.

False. They can be garnished for things like federal debts, taxes, student loans, all those kinds of things. So don't think you're going to get out of it. Once you reach age 70, your Social Security benefits will automatically increase each year you delay filing.

So here you are 70 and you decide not to file, but the delayed retirement credits will go on till you're 71, 72, 73. Is that true?

So here you are 70 and you decide not to file, but the delayed retirement credits will go on till you're 71, 72, 73. Is that true?

That is false. Delayed credits stop accruing at age 70. No reason to wait longer, so it absolutely drives me crazy for those of you who write in and you say, I'm 74. I haven't started collecting my Social Security benefits. I'm just letting them increase. I'm like, Are you crazy? They don't increase after the age of 70, so it's just something that you should know about. All right.

That is false. Delayed credits stop accruing at age 70. No reason to wait longer, so it absolutely drives me crazy for those of you who write in and you say, I'm 74. I haven't started collecting my Social Security benefits. I'm just letting them increase. I'm like, Are you crazy? They don't increase after the age of 70, so it's just something that you should know about. All right.

You can only collect Social Security if you are a US citizen.

You can only collect Social Security if you are a US citizen.

True or false

True or false

False, everybody, certain non-citizens with legal status and work history may absolutely qualify.

False, everybody, certain non-citizens with legal status and work history may absolutely qualify.

Once you... now this one's important,

Once you... now this one's important,

all right? Once you claim benefits, you have up to 12 months to withdraw your application and reapply later.

all right? Once you claim benefits, you have up to 12 months to withdraw your application and reapply later.

If you repay what you received, so you started claiming benefits at 62.

If you repay what you received, so you started claiming benefits at 62.

You've only claimed them for let's say 11 months. You call in to the Women and Money podcast and you tell me that you did that, and I scream at you and I say, Are you crazy?

You've only claimed them for let's say 11 months. You call in to the Women and Money podcast and you tell me that you did that, and I scream at you and I say, Are you crazy?

And you go, well, what should I do? What can I do now? You have up till 12 months after you started

And you go, well, what should I do? What can I do now? You have up till 12 months after you started

to withdraw your application, pay back every cent that they gave you.

to withdraw your application, pay back every cent that they gave you.

And then you just start all over as if you had never claimed. So if you made a mistake and you claimed before full retirement age.

And then you just start all over as if you had never claimed. So if you made a mistake and you claimed before full retirement age.

And you haven't passed the 12 month mark yet, you might want to think about it. Just remember this is only a one time option that you can undo the claim. And the last one in this category is.

And you haven't passed the 12 month mark yet, you might want to think about it. Just remember this is only a one time option that you can undo the claim. And the last one in this category is.

You can receive Social Security benefits even while living abroad.

You can receive Social Security benefits even while living abroad.

So many of you ask me this.

So many of you ask me this.

And you think, OK, I'm moving abroad. Are they gonna give me my money when I'm over there?

And you think, OK, I'm moving abroad. Are they gonna give me my money when I'm over there?

And the answer to that is true. US citizens and eligible non-citizens can receive benefits in many, many countries. So that's kind of the basics that you need to know about Social Security, where most of you have total confusion, however,

And the answer to that is true. US citizens and eligible non-citizens can receive benefits in many, many countries. So that's kind of the basics that you need to know about Social Security, where most of you have total confusion, however,

is with the spousal and survivor benefits. So are you ready?

is with the spousal and survivor benefits. So are you ready?

If your own Social Security benefit

If your own Social Security benefit

is higher than 50% of your spouses,

is higher than 50% of your spouses,

you can still collect a spousal benefit in addition to your own benefit.

you can still collect a spousal benefit in addition to your own benefit.

So if the Social Security benefit is higher, yours than 50% of your spouse's, you can still collect a spousal benefit in addition to your own true or false.

So if the Social Security benefit is higher, yours than 50% of your spouse's, you can still collect a spousal benefit in addition to your own true or false.

That's false, everybody.

That's false, everybody.

You can only receive the higher of your own or the spousal benefit, not both. Do not make that mistake in planning for income. A lot of you make that mistake.

You can only receive the higher of your own or the spousal benefit, not both. Do not make that mistake in planning for income. A lot of you make that mistake.

A spouse cannot claim spousal benefits unless the other spouse has already filed for their own Social Security benefit.

A spouse cannot claim spousal benefits unless the other spouse has already filed for their own Social Security benefit.

All right, so your spouse has claimed. Can you claim a spousal benefit?

All right, so your spouse has claimed. Can you claim a spousal benefit?

That's true. Spousal benefits are not available until the primary worker has claimed.

That's true. Spousal benefits are not available until the primary worker has claimed.

So you just need to remember that just because you turn a certain age you cannot claim on your spousal's record.

So you just need to remember that just because you turn a certain age you cannot claim on your spousal's record.

If he or she hasn't already claimed all right.

If he or she hasn't already claimed all right.

A widow or widower can begin receiving survivor benefits as early as age 50 if they are disabled.

A widow or widower can begin receiving survivor benefits as early as age 50 if they are disabled.

And the answer to that is true. Otherwise, survivor benefits everybody begin at the age of 60.

And the answer to that is true. Otherwise, survivor benefits everybody begin at the age of 60.

Next, remarrying before age 60 makes a widow or widower ineligible for survivor benefits based on a deceased spouse's record, true or false.

Next, remarrying before age 60 makes a widow or widower ineligible for survivor benefits based on a deceased spouse's record, true or false.

That is true. So be very, very careful if you want your deceased spouse's Social Security. Do not get remarried before the age of 60. However, unless that later marriage ends.

That is true. So be very, very careful if you want your deceased spouse's Social Security. Do not get remarried before the age of 60. However, unless that later marriage ends.

Cause if it does, then you can collect. All right.

Cause if it does, then you can collect. All right.

If a deceased spouse delayed claiming Social Security past full retirement age, so they went past the age of 67, maybe it's 70.

If a deceased spouse delayed claiming Social Security past full retirement age, so they went past the age of 67, maybe it's 70.

The survivor can receive the full delayed benefit amount.

The survivor can receive the full delayed benefit amount.

Notice I said the survivor, right, these are survivor benefits, not spousal benefits.

Notice I said the survivor, right, these are survivor benefits, not spousal benefits.

That's true.

That's true.

Survivors get the benefit the deceased was entitled to, including delayed benefits.

Survivors get the benefit the deceased was entitled to, including delayed benefits.

Please know that that is not true for spousal benefits. It's only true for survivor benefits.

Please know that that is not true for spousal benefits. It's only true for survivor benefits.

A divorced person can receive survivor benefits from an ex-spouse if they were married for at least 10 years.

A divorced person can receive survivor benefits from an ex-spouse if they were married for at least 10 years.

And that is true.

And that is true.

10 years is the minimum required for divorced survivor benefits. So if you're with somebody and you've been with them 9 or 9 and a half years and you want to file for divorce, can you just wait another 6 months? Just, just wait, OK? A person cannot receive both their own Social Security benefit and a survivor benefit at the same time.

10 years is the minimum required for divorced survivor benefits. So if you're with somebody and you've been with them 9 or 9 and a half years and you want to file for divorce, can you just wait another 6 months? Just, just wait, OK? A person cannot receive both their own Social Security benefit and a survivor benefit at the same time.

That is true. Remember you can only get one Social Security check, and you will get the higher of the two benefits. That's what you will get. So if your benefit is higher than the survivor benefit, you will have to take your benefit. If the survivor benefit is higher than yours, you will get the higher the survivor benefit. Know that.

That is true. Remember you can only get one Social Security check, and you will get the higher of the two benefits. That's what you will get. So if your benefit is higher than the survivor benefit, you will have to take your benefit. If the survivor benefit is higher than yours, you will get the higher the survivor benefit. Know that.

If somebody is receiving spousal benefits and their spouse dies.

If somebody is receiving spousal benefits and their spouse dies.

They automatically begin receiving survivor benefits, true or false.

They automatically begin receiving survivor benefits, true or false.

That's false. You have to apply for survivor benefits separately. Do not think that it will automatically happen cause it won't.

That's false. You have to apply for survivor benefits separately. Do not think that it will automatically happen cause it won't.

A surviving spouse can collect survivor benefits and delay their own retirement benefits to grow until age 70.

A surviving spouse can collect survivor benefits and delay their own retirement benefits to grow until age 70.

Think about this one now.

Think about this one now.

A surviving spouse can collect survivor benefits. The spouse died, and now he or she is collecting survivor benefits, but they can delay their own retirement benefits to grow until age 70.

A surviving spouse can collect survivor benefits. The spouse died, and now he or she is collecting survivor benefits, but they can delay their own retirement benefits to grow until age 70.

True or false, that is true, and it's a very strategic way, everybody, to maximize lifetime benefits.

True or false, that is true, and it's a very strategic way, everybody, to maximize lifetime benefits.

A widow or widower who was married to more than one

A widow or widower who was married to more than one

deceased spouse can collect benefits from multiple spouses.

deceased spouse can collect benefits from multiple spouses.

That's false. They can choose only one. Typically, the highest survivor benefit is the one that they choose, OK.

That's false. They can choose only one. Typically, the highest survivor benefit is the one that they choose, OK.

If your survivor benefit is higher,

If your survivor benefit is higher,

than your own retirement benefit.

than your own retirement benefit.

You can switch to it even after claiming your own benefit.

You can switch to it even after claiming your own benefit.

So this was a reverse of one that was just done earlier.

So this was a reverse of one that was just done earlier.

What do you think if your survivor benefit is higher than your own retirement benefit?

What do you think if your survivor benefit is higher than your own retirement benefit?

You can switch to it even after claiming your own benefit.

You can switch to it even after claiming your own benefit.

So you're claiming your own Social Security, and your spouse dies and the survivor benefit is higher than yours. Can you switch to it? You absolutely can. That's true. You can switch to whichever one is higher. Do not forget that.

So you're claiming your own Social Security, and your spouse dies and the survivor benefit is higher than yours. Can you switch to it? You absolutely can. That's true. You can switch to whichever one is higher. Do not forget that.

Next, delaying Social Security benefits past full retirement age increases both your retirement benefit and your spousal benefit.

Next, delaying Social Security benefits past full retirement age increases both your retirement benefit and your spousal benefit.

That's false. You have to remember that only your own retirement benefit increases. Spousal benefits do not. So if you are married and your spouse is waiting till the age of 70 to collect his or her Social Security.

That's false. You have to remember that only your own retirement benefit increases. Spousal benefits do not. So if you are married and your spouse is waiting till the age of 70 to collect his or her Social Security.

And you are going to claim a spousal benefit. You do not get 50% of what your spouse would get at the age of 70. You only get 50% of what they would have gotten at their full retirement age, probably 67, OK.

And you are going to claim a spousal benefit. You do not get 50% of what your spouse would get at the age of 70. You only get 50% of what they would have gotten at their full retirement age, probably 67, OK.

You need to know that.

You need to know that.

You must be married for at least 10 years to an ex-spouse to qualify for either spousal or survivor benefits, true or false.

You must be married for at least 10 years to an ex-spouse to qualify for either spousal or survivor benefits, true or false.

That's true.

That's true.

10 years, 10 years, everybody remember 10 years.

10 years, 10 years, everybody remember 10 years.

A widow or widower must wait 5 years after their spouse's death,

A widow or widower must wait 5 years after their spouse's death,

before applying for survivor benefits.

before applying for survivor benefits.

True or false.

True or false.

That's false. They can apply as early as age 60 or 50 if disabled.

That's false. They can apply as early as age 60 or 50 if disabled.

Now that was a repeat of an earlier one cause some of you get so, so confused with spousal benefits or survivor benefits or any of that you just get so confused, but now you hopefully know.

Now that was a repeat of an earlier one cause some of you get so, so confused with spousal benefits or survivor benefits or any of that you just get so confused, but now you hopefully know.

A person claiming spousal benefits,

A person claiming spousal benefits,

cannot later switch to survivor benefits.

cannot later switch to survivor benefits.

That's false, and many of these are repeats because I really want you to get them. I want you to look back and see if you missed it when I asked it earlier. Did you get it right this time, because this is the number one question that I am asked, OK.

That's false, and many of these are repeats because I really want you to get them. I want you to look back and see if you missed it when I asked it earlier. Did you get it right this time, because this is the number one question that I am asked, OK.

And I'm just going to ask two more, so I don't know how many that makes, but survivor benefits include delayed retirement credits earned by the deceased. So,

And I'm just going to ask two more, so I don't know how many that makes, but survivor benefits include delayed retirement credits earned by the deceased. So,

your spouse,

your spouse,

claimed at 70,

claimed at 70,

And therefore he got delayed credits, delayed retirement credits. When he or she dies, do you get the full amount that your deceased spouse was receiving?

And therefore he got delayed credits, delayed retirement credits. When he or she dies, do you get the full amount that your deceased spouse was receiving?

True or false.

True or false.

You do remember survivor benefits are very, very different.

You do remember survivor benefits are very, very different.

Then spousal benefits, they are not the same, and they do not follow the same rules. So they have different eligibility rules and payment structures. So just know a survivor, your spouse has died.

Then spousal benefits, they are not the same, and they do not follow the same rules. So they have different eligibility rules and payment structures. So just know a survivor, your spouse has died.

Spousal benefits, your spouse is still alive and you are claiming a benefit based on your spouse's social security.

Spousal benefits, your spouse is still alive and you are claiming a benefit based on your spouse's social security.

So last question then, spousal benefits include delayed retirement credit.

So last question then, spousal benefits include delayed retirement credit.

By the spouse

By the spouse

So here you are, you are married and your spouse claimed Social Security at the age of 70, so he or she has delayed retirement credits.

So here you are, you are married and your spouse claimed Social Security at the age of 70, so he or she has delayed retirement credits.

Do you get 50% of that amount at the age of 70 if you are the spouse?

Do you get 50% of that amount at the age of 70 if you are the spouse?

And the answer to that is false. You do not.

And the answer to that is false. You do not.

So you have to see there the difference between spousal benefits and survivor benefits.

So you have to see there the difference between spousal benefits and survivor benefits.

All right.

All right.

Did you like that little test?

Did you like that little test?

You know, you might have to listen to it over and over again.

You know, you might have to listen to it over and over again.

I hope I didn't go too fast for you, but in these questions are all the questions that you ask me.

I hope I didn't go too fast for you, but in these questions are all the questions that you ask me.

You ask me, my spouse died, Suze, if I collect my own benefit, and then will I get my survivor benefit like so many times you're asking me the same questions. So now these are the things that you need to know about Social Security. There's a million other things you need to know about children's benefits and all of that, but I thought that was probably enough for you to take for this Suze School.

You ask me, my spouse died, Suze, if I collect my own benefit, and then will I get my survivor benefit like so many times you're asking me the same questions. So now these are the things that you need to know about Social Security. There's a million other things you need to know about children's benefits and all of that, but I thought that was probably enough for you to take for this Suze School.

And it was also enough for my voice for now anyway, I hope you enjoyed that. I hope you learned from it. It's just something you need to know cause every penny you have earned.

And it was also enough for my voice for now anyway, I hope you enjoyed that. I hope you learned from it. It's just something you need to know cause every penny you have earned.

In Social Security and you've earned it. You paid for it. You have to know what you have coming to you. You have to know how it works, and you have to not be worried about what the government's going to do. You have to be worried about what you are going to do and what you know. All right, until Thursday,

In Social Security and you've earned it. You paid for it. You have to know what you have coming to you. You have to know how it works, and you have to not be worried about what the government's going to do. You have to be worried about what you are going to do and what you know. All right, until Thursday,

when Ms. Travis will join us again, there's only one thing that I want you to remember when it comes to your money. You should go to my YouTube channel, youtube.com/SuzeOrman and play there. Try the Can I Afford It segments. They're gamified now. Look at other things that we have coming up. We're posting new every single week, so go on, go there and see what you can find.

when Ms. Travis will join us again, there's only one thing that I want you to remember when it comes to your money. You should go to my YouTube channel, youtube.com/SuzeOrman and play there. Try the Can I Afford It segments. They're gamified now. Look at other things that we have coming up. We're posting new every single week, so go on, go there and see what you can find.

But remember people first, then money, then things. Now you stay safe. Bye bye.

But remember people first, then money, then things. Now you stay safe. Bye bye.