Filing For Early Retirement Benefits

Is It True That I Don't Qualify For Spousal Benefits?

At 62 I was advised by Social Security to begin taking my benefits because eventually I would take half of my husband's Social Security. My husband is 66 and applying for benefits. However Social Security is now telling us I will never be able to do this, as my full benefits at the age of 66 ( 1294.60) ! would be $40 more than half of his which would be 1249.20. Is this true? Is there something we can do? Now I am in the position of never being able to collect full benefits, which means a loss of more than $300.

Hi,

How Much Will My Benefit Rate Be Reduced If I Start Benefits At Age 64?

I turn 66 April 20 , 2019 , If I decide to start my Social security payments in April of 2017 what percentage of my FRA would I lose . I am projected to receive $1550 per month .

Hi,

If you start drawing your retirement benefits 24 months prior to full retirement age (FRA), your benefit rate will be reduced by 13.33%. You may want to consider running the maximization software available on this website before making any final decisions on when to apply for benefits.

Best, Jerry

Will Filing Early Reduce All of My Benefits?

Hi, my husband will be 69 and I will be 62 in September. He filed/suspended at FRA and we are currently planning on taking his benefit when he turns 69 1/2 or so. If I file early at 62 this September on my own record which will always be significantly less than his, will that affect any survivor benefits for me later including the DRC's he has accumulated? Thanks, Rose

When Should I Take My Retirement Benefit?

Hi Larry,

My husband's birthday is 5/1952 so he turned 62 before Jan.1, 2016. My birthday is 6/1954, so I did not turn 62 until after the Jan. 1, 2016 cutoff date. Our plan is for me to apply for my benefits, which will be much lower than my husband's, when I turn 66. At that time my husband will be 68 and he can collect half of my benefits, then when he turns 70 we switch. He will start collecting his own benefit and I will switch to half of his. Is this still legal under the new rules?

Thank you, Iona

Dear Iona,