Is It a Good Idea for Me to File and Suspend My Retirement Benefit before Filing for My Spousal Benefit?

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Jul 8 2016 - 9:00pm

Hi, my husband is currently 75 years old and started collecting social security at age 62. I am about to turn 66 in July and want to know if I can suspend my social security benefits and collect half of my husband's? Thanks, Denise

Denise, it would make no sense to file for and suspend your retirement benefit before filing for your spousal benefit. If you did, you'd then only be eligible for your excess, not your full, spousal benefit which could be very small or $0 depending on your relative earnings. You could file just for your spousal benefit at your full retirement age (FRA) and then file for your retirement benefit at 70. Our software can determine your maximized strategy and also will let you enter various what-if scenarios to see how they compare. Thanks, John