i am turning 62 in September '17, been married 16 years to my current husband who is 10 years my junior(52). He makes significantly more money than I do. I work in the restaurant industry and would like to work part time and take my own Social Security retirement benefit saving my spousal benefit for FRA. I've read your book and I think I have the right idea. Working part time I can still collect SS at a reduced rate, (first $15,480 exempt and anything more than that is a reduced amount of $1 for every $2 earned) and my benefit will be increased at FRA to account for benefits withheld. In 10 years he will be 62 but I don't expect him to take his benefit until FRA which will now be at least another 5-6 years (?) so in other words I can"t receive a spousal benefit until I am about 78. Am I right? Should I be doing something else?

Hi,

Yes, it sounds like you basically understand your options. You could start drawing your retirement benefits at age 62, but your benefit rate would be reduced by roughly 26% if you do so. And, if you lose some of your benefits due to the Social Security earnings test, your benefit rate would be adjusted after you reach full retirement age in order to remove some of the reduction. By the way, the earnings test exempt amount is $16,920 this year, not $15,480.

When your husband files for his benefits in the future, you can then file for additional spousal benefits. The amount of spousal benefits that you could qualify for is the difference between 50% of your husband's full retirement age rate (PIA), minus your own PIA. This difference would then be paid in addition to the reduced retirement benefits payable on your own record.

You may want to strongly consider using the maximization software available on this website in order to explore all of your filing options and determine your best strategy.

Best, Jerry