Filing Strategies

Hi, Larry,

I will be 65 years old soon and my wife will be 59 and wee have a disabled child since birth, he is 25 and receives SSI. My PIA is much higher than my wife. If I decide to file for SS at age 65 and file for my wife as child in care person, the maximum family benefit will be applied on my record. I wonder what happen when my wife reach a retirement age and she wants to apply on her record?
Thank you in advance.
..Said

Hi Said,

I started receiveing SSDI when I was 55 years old and continued until I turned 62. I started working again and, God willing, I will continue working until I reach full retirement age at 66 and 4 months. Will my SS benefits be reduced because of my years on SSDI?

I lost my husband five years ago and have not filed for survivor benefits because my benefits were higher. Since I have returned to work, I make too much money to receive any survivor benefits.

Would it be better to collect my survivor benefits when I reach full retirement age or my own SS?

I have read many articles where most advisors recommend waiting until age 70 to start SS for longevity insurance, and I agree that the correct answer by default is to wait until age 70 if longevity insurance is your main goal. But, for those who have significant assets and are not worried about longevity insurance, how do you decide whether to start at FRA vs age 70? I plan to retire at FRA in 2021 with no debt and have rental properties which I don't plan to sell and have significant stock investments earning anywhere from 4% to 6% in dividends.

I retired with a pension and some investment & rental income, so I haven't started my SS yet. I was born in 1955 and was planning to wait until age 70 to start my SS, but now I'm thinking it may be better to start at FRA since both my parents died early (ages 72 and 79). I'm in good but not great health (male, not married). It appears that my breakeven age is about 82.5, so I would need to live past 82.5 to come out better by waiting to start at age 70. I would like to get the maximum lifetime payout rather than the biggest monthly check.

Hello! I have the book but cannot seem to find an answer to this: My full retirement age is 66 and 2 months, however I plan on working until I turn 70.. I had a long term first marriage and divorced after 13 years. Shortly after the divorce my first husband died. I know I can collect his retirement at age 66.2 but will collecting have a negative affect on my retirement I will collect at 70?

I was born 6/20/56 and was married for 25 years to my husband (6/22/52) who died suddenly at 47 years old on May 23 2000. I might also add that on a visit to a local Social Security office (not in my home state), I was told that they wouldn't answer my questions because I had to make an appointment in my home state. I spend time in two states and have my primary residence in Florida. I was in New York at the time I made an appointment w Soc Sec.
My question at the time was could I or should I collect spousal benefits and still work.

I was born in October, 1951. My wife was born in November, 1952. We both turned 62 before January 1, 2016.. Because we both have had well paying careers, her Social Security benefits will be only slightly lower than mine.

I want to start collecting my Social Security benefits when I turn 70 in October, 2021. My wife would like to file for spousal benefits at that time. Will she collect 50% of my FRA benefit or 50% of the delayed benefits I receive at age 70?

I am 66 and started collecting $2,500/mo last July. My wife will be 66 in Aoril of 2021 and can collect $1,900/mo shortly thereafter. Should she proceed or is there a better way to proceed?

Hi,

Your wife will only be eligible for her own benefit since it's clearly more than half of your full rate. She could apply for her benefits any time between now and age 70, and basically, the sooner she starts drawing the lower her monthly rate will be. It mostly comes down to which option she's most comfortable with.

Hi Larry:

I am currently receiving a spousal benefit of $1194 and turn 70 in June 2021. Would it be wise to collect my own benefit of $1854 six months early at age 66.5 to receive $708 per month more from Jan to June 2021. In June at age 70 I will receive $1902. I believe it will take a little over six years to break even. Is this wise to collect early when I am so close to 70? I am in excellent health and don't see any issues with a short retirement.

Hi,