I have an adult child who is disabled from birth that I have always taken care of. He requires total constant care. I receive a check for caregiver from the state. It is recorded in box 14 on w-2 as exempt earnings. It does not have taxes taken out and does not count as income on my taxes. Question 1) when is it best to start taking social security? 2.). Do I need to report the money I receive as caregiver for my child as exempt income to social security when we start claiming even if it does not count as income on my taxes?

I started my SS at 70 at maximum possible amount. My spouse (lower earner) turns 62 in July 2022. What strategy may we use jointly to maximize our combined SS? Thank You.

Hi Larry, I am 65 and my wife is 63. We are both in good health. We are both retired. We live on my pension, which usually increases each year, plus withdrawals from deferred compensation accounts (traditional IRAs and a 457 plan). If I start Social Security at full retirement age and if my wife takes the spousal benefit at the same time we will replace the amount we are withdrawing from our deferred compensation plans. One of our financial goals is, upon our deaths, to leave money for family members and charities.

I will turn 70 next March (2023). My wife turns 62 ten years from now. I will start collecting Social Security benefits next year. When should she start collecting?

Many thanks.

Greetings Larry!

I was born 11/6/57 and my wife was born 12/14/65. I received my first Social Security check of $2,336 on 2/9/22. I know that I have 12 months from January 2022 and can still request to stop my claim and return the check(s) I receive this year.

My wife plans to quit working at the end of year 2025, when she’s age 60. By that time, I estimate her highest 35 years total SS wages would have been around $1.74MM, divided by 35, equals $49,653.21 yearly average earnings ($4,137.77/mo. avg).

I reach my FRA in April 2022. i was married for over 10 years, divorced in 2000 and never remarried. I want to maximize my SS and am asking for some direction. I work parttime and was wondering if I can start taking any kind of benefit on my ex-spouse's record in April and wait to start collecting my own benefit at 70. I dont know if my ex is collecting yet or not. He will be 68 in August of 2022. what is your best advice? I listen to your interviews as much as I can but havent heard one that pertains to my individual situation.

I'm reading the book, but I am so confused. I am 67. I am not working. My husband died in 1993 and his income was substantially more than mine. How can I consider "File and Suspend" without knowing what his benefit would be so I know how to file. I have NOT filed for SS yet and was waiting until I turn age 70. HE did not collect because he died just shy of age 50. HOW can I find out about his potential SS retirement benefits that I would be entitled to?

I'll be 66 in 09/2022 and plan to file for retirement benefits in 01/2023, at my FRA.
My wife will be 64 in 04/2022. Her PIA is far below 50% of my PIA.
If she files early for her own benefit now and switches to a spousal benefit in 12/2024, will that spousal benefit be lower than if she does not file for her own benefit and simply waits until 12/2024 to file for the spousal benefit?

What is the best age to retire. I want to file for my social security at the age of 64.

Hi. There is no one-size-fits-all best time to start drawing Social Security benefits. Each person's optimal filing strategy depends on numerous different factors, including their health, marital status, and benefit rates.

I am 63 and my wife is 53. We both work with my earnings more than hers. Given her age should I try to hold off on SS till 70 (I plan to retire at 65/66)? And if so should she start taking SS at 62 when I'll be 72? Thanx in advance for your response.