Filing For Early Retirement Benefits

Can You Give Me Some Advice?

I just recently turned 61 and 9 months (born in 11/1955) and filed for Social Security retirement benefits. I just recently found a job in February 2017 after 3 years of being UN-employed. However the pay is nowhere near what I used to make. I would make approximately $27,000 this year gross. This is a little over $10,000 above the 2017 earnings limit of $16,920. I need to work this relatively low-paying job to get free health insurance. My SS representative just told me that I should cancel my application because I would be heavily penalized for filing so early.

Is It True That I Don't Qualify For Spousal Benefits?

At 62 I was advised by Social Security to begin taking my benefits because eventually I would take half of my husband's Social Security. My husband is 66 and applying for benefits. However Social Security is now telling us I will never be able to do this, as my full benefits at the age of 66 ( 1294.60) ! would be $40 more than half of his which would be 1249.20. Is this true? Is there something we can do? Now I am in the position of never being able to collect full benefits, which means a loss of more than $300.


How Much Will My Benefit Rate Be Reduced If I Start Benefits At Age 64?

I turn 66 April 20 , 2019 , If I decide to start my Social security payments in April of 2017 what percentage of my FRA would I lose . I am projected to receive $1550 per month .


If you start drawing your retirement benefits 24 months prior to full retirement age (FRA), your benefit rate will be reduced by 13.33%. You may want to consider running the maximization software available on this website before making any final decisions on when to apply for benefits.

Best, Jerry

When Should I Take My Retirement Benefit?

Hi Larry,

My husband's birthday is 5/1952 so he turned 62 before Jan.1, 2016. My birthday is 6/1954, so I did not turn 62 until after the Jan. 1, 2016 cutoff date. Our plan is for me to apply for my benefits, which will be much lower than my husband's, when I turn 66. At that time my husband will be 68 and he can collect half of my benefits, then when he turns 70 we switch. He will start collecting his own benefit and I will switch to half of his. Is this still legal under the new rules?

Thank you, Iona

Dear Iona,