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The average American is likely to have a few knowledge gaps when it comes to their Social Security benefits.

For example, Anna was married for 15 years and never remarried after her divorce. Now that she's retired, she's collecting her Social Security retirement benefit based on her own earnings record. Along with her personal savings, it's enough to get by.

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However, her ex-husband isn't in the best of health, and Anna wants to know if she would be eligible for his higher survivor benefits if he passes away before she does - even though he's now remarried. While she has an amicable relationship with her ex, she doesn't feel comfortable approaching him (or his new wife) about the topic, either.

Her situation isn't uncommon, as women tend to outlive men by an average of about five years. Women, on average, also make less money than men (16% less, according to the U.S. Department of Labor) and can have shorter work histories if they've taken time off for maternity leave and child care. Coupled with the rising cost of living, it's natural for Anna to wonder if she can increase her retirement benefit.

How survivor benefits work

Survivor benefits are paid monthly to eligible family members of a deceased beneficiary. So, whether you're a spouse or ex-spouse, you can be eligible, so long as you meet the criteria outlined by the SSA.

Since they were married for more than 10 years and Anna is currently unmarried (and would only potentially remarry after 60), she may be eligible for survivor benefits.

Anna is also at least 62, as she's collecting her retirement benefits already, so she meets the spousal 60-plus age requirement for survivor benefits (or 50 if you live with a disability). Still, if she were caring for the deceased's child, she may be eligible regardless of these other criteria.

Anna would have to choose between her own retirement benefit and her survivor benefit (after her ex-husband has passed away, of course). She can't receive two benefits at the same time - but this can work in her favor.

The SSA says she could choose to start with her survivor benefit and then switch to her retired worker benefit at age 70 when she'd be able to receive the highest amount.

Read more: US car insurance costs have surged 50% from 2020 to 2024 - this simple 2-minute check could put hundreds back in your pocket

When to claim survivor benefits

If your ex-spouse passes away and you claim your survivor benefit before full retirement age, you'll receive a reduced benefit. For spouses and ex-spouses, payments start at 71.5% of the deceased's benefit.

If you're still employed, you may be subject to an earnings limit (depending on your age). That means your survivor benefit would be reduced - though temporarily - if you earn above that limit in a year.

Anna may choose to contact the SSA to discuss her future options - and she can rest easy knowing her ex-husband won't be notified of it.

Also, if she does qualify, her benefit won't impact the benefit amount paid out to other survivors, such as a current surviving spouse.

How to prepare for a comfortable retirement

Social Security is meant to supplement income in retirement, not completely replace it. At age 67, men receive an average monthly benefit of $1,853.68, and women receive $1,478.02.

So it's crucial to build a solid investment portfolio so that you can make up the difference in your income. The Bureau of Labor Statistics estimates that the average retiree spends $5,000 per month.

To build a high-growth investment portfolio, consider diversifying outside of the stock market with alternative assets like real estate, art, and commodity investments like gold.

Real estate

First National Realty Partners (FNRP) allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord.

With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, CVS, Kroger and Walmart, which provide essential goods to their communities.

Even better, FNRP handles the work for you. Their team of experts manages every component of the investment life cycle from due diligence and leasing to property management.

Simply answer a few questions - including how much you would like to invest - to start browsing their full list of available properties .

Art

Another investment class that's also no longer restricted to the super-wealthy is fine art.

Masterworks is a platform that lets you invest in shares of contemporary art. That means you can invest in the value of paintings completed by well-known artists like Banksy, Picasso and Basquiat.

As an investor, simply select the pieces you want to invest in - with every work thoroughly vetted by their team of industry leaders. Based on the Masterworks selection criteria, less than 3% of all artwork passes the vetting process - making each investable asset a prime candidate for future appreciation.

Masterworks takes care of all the heavy lifting from buying the paintings, to storing them, to selling them opportunistically for you - no art experience required. Get started with Masterworks today.

Gold

Finally, gold's popularity has been booming as investors look for safety outside of the shaky stock market.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold .

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold , making it an attractive option for those looking to hedge their retirement funds against potential economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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