My husband died in 2018. My 20 year old developmentally disabled son is receiving social security survivor benefits through my husband (as well as some ssi). Do you recommend I wait to apply for survivor benefits for myself until I retire? I make too much money to receive any money if I apply before I retire, but is there any advantage for me to apply at 60? Will my son’s social security survivor benefit be reduced when I start receiving survivor benefits? Will my benefit be the same as my son’s? I am 59, planning to retire in the next 2-3 years. I don’t plan to claim my own social security until at least age 67.
Hi. I'm sorry for your loss. Your best filing strategy depends on a number of different factors, such as how much you'll be earning annually between now and your full retirement age (FRA), whether or not you could qualify for child in care survivor benefits, and the comparative amounts of your unreduced Social Security retirement and survivor benefits.
If you don't meet the requirements for child in care survivor benefits, your best strategy for claiming benefits would likely be one of the following:
1) File for reduced widow's benefits at age 60 or as soon as your earnings will permit at least some benefits to be paid, then switch to your own record at age 70; or,
2) File for reduced retirement benefits on your own record at age 62 or as soon as your earnings will permit at least some benefits to be paid, then file for unreduced widow's benefits at your full retirement age (FRA).
Normally, you would want to start out drawing the lower benefit first and then switch to the higher benefit when it reaches its highest potential rate. However, if you are eligible for mother's benefits based on having a child in care (https://www.ssa.gov/OP_Home/handbook/handbook.04/handbook-0415.html), then additional options would be involved.
The monthly amount for which you'd be eligible depends on whether you qualify for mother's benefits or widow's benefits. But, regardless of what type of benefits you're eligible for, some or all of your benefits could be withheld until you reach FRA due to Social Security's earnings test (https://www.ssa.gov/benefits/retirement/planner/whileworking.html).
Our software (https://maximizemysocialsecurity.com/purchase) could help you sort all of your various options so that you can determine the best strategy for maximizing your benefits.
Best, Jerry
