10 Bizarre Things About Social Security - Part 2: Social Security’s Viagra Benefit

Social Security's Viagra benefit usually comes into play when an older man marries a younger woman and they have children.

If he claims his Social Security benefit, his children under 18 would also be entitled to receive it. If they are under 16, then his wife would be entitled to receive a Social Security benefit as well.

Let's take a look at how this would work.

How Social Security's Viagra Benefit Works

A 60-year-old man marries a 38-year-old woman. Eighteen months later they have a child.

If he claims his benefits at age 62, his now 1-year-old child and 40-year-old wife would be entitled a Social Security benefit equal to 50% of the husband's Full Retirement Age benefit amount.

The husband made a good living over his working career. He has a fairly large Full Retirement Age benefit of $2,800 per month. The husband would receive that $2,800 per month if he waited until his Full Retirement Age of 66 years and 8 months to claim it. But because he claims his benefit early at age 62, the benefit amount that he receives is reduced to $2,000 per month.

Believe it or not, the fact that the husband claimed his benefit early and it was reduced to only $2,000 per month, has no effect on the benefit amount his younger wife and child will receive.

Let's break it down with numbers:

$2,800 x 50% = $1,400 per month.

They still receive a benefit amount equal to 50% of the husband's Full Retirement Age benefit of $2,800 per month or $1,400 per month. So both the younger wife will receive a monthly benefit of $1,400 per month and their 1-year-old child will also receive a monthly benefit of $1,400 per month.

$16,800 x 14 = $252,00 for Wife

Their child is only one when she starts to receive these benefits. This means she will receive 15 years of benefits or a cumulative total of $235,200 ($16,800 × 15).

$16,800 x 17 = $285,600 for Child

Their child gets to receive their benefits for 16 years up until they turn 18. This makes the cumulative total of $285,600 ($16,800 × 16).

$252,00 + $285,600 = $537,600

IF WE ADD BOTH OF THOSE TOTALS TOGETHER THE RESULT IS $537,600.

So this married couple was able to receive well over half a million dollars from Social Security's Viagra benefit. That is incredible and also a little bizarre.

The Viagra Benefit is More Popular Than You May Think

By the way, this may be bizarre but it is not that unusual. I have advised several married couples who were qualified to use the Social Security Viagra benefit. Just like the example I just gave you, the wife and young child would receive hundreds of thousands of dollars in cumulative Social Security benefits before the child turned 18 years old.

This is Part 2 of a 10 part series. Keep your eyes open for more Social Security tips and advice coming soon.

Part 1: Your Ex-Spouses Could Receive Your Full Social Security Benefit If You Die Before Them