Ex-Spouses and the Restricted Application Strategy
Ex-spouses can use the restricted application strategy to increase their retirement nest eggs. For divorced women who plan to work until age 70 the Restricted Application Strategy (for details see the post that includes the summary for Chapter 5: Maximizing Your Benefits by Claiming Now and Claiming More Later) is ideal for “catching up” on needed retirement funds. The full-retirement age (FRA) ex-spouse can apply for spousal benefits on the earner’s work record and continue to work. The ex-spouse can gain delayed retirement credits (DRCs) until age 70. At age 70 the ex-spouse can switch to her own larger benefit.
About ksindell
Kathleen Sindell, Ph.D. is the author of numerous academic, popular, and professional finance articles, Web sites, proposals, and books. This includes the bestselling reference book, "Investing Online for Dummies, Eds 1-5" (listed for two consecutive years on the Wall Street Journal's Bestselling Business Book List). Her most recent book "Social Security: Maximize your Benefits" has been listed in Amazon's Top 100 Bestselling Retirement Planning Books. It is important to note that "Social Security: Maximize Your Benefits, 2nd Edition" was just released.
Sindell has an in-depth understanding of the financial services industry and has held Series 7, 63, and 65 licenses. Dr. Sindell is regularly tapped as a financial services expert on ABC World News, The Nightly Business Report, and at popular online and print outlets. Kathleen Sindell, Ph.D. is a member of the Board of Directors for the Financial Planning Association, National Capital Area (FPA NCA), is on the Editorial Advisory Panel of the Journal of Financial Planning, and is Co-Chair of the Metro Washington Financial Planning Day. Sindell is a Course Chair II, CFP Program Academic Officer, and adjunct full-professor at the University of Maryland, UMUC, School of Undergraduate Studies.
Contact Information: ksindell@kathleensindell.com or 703-299-1700
