Hi Larry,

My husband will turn 62 this year and does not currently have a FT job. I am 46 and work FT. Should my husband collect SS benefits now or wait until full retirement? I still have many years before I am eligible for my own SS benefits. Also, how will this affect my eligibility for spousal benefits? Thank you.

Hi,

Deciding when to start drawing benefits is a personal decision, but if your husband starts drawing his benefits at age 62 he'll receive a reduced rate of about 74-75% of his full retirement age rate. And, most of that reduction would carry over to the rate that you could receive in the future as a widow on his record. His decision on when to apply would not affect your future options for spousal benefits, however, nor the rate that you could potentially receive as a spouse.

You may want to strongly consider running the maximization software available on this website before making any filing decisions. That way, you can fully explore all of your filing options to determine which strategy is optimal.

Best, Jerry