Based on what I’ve learned from your book, “Get What’s Yours, The Revised Secrets to Maxing out Your Social Security”, I believe I’ve developed a plan for myself and my wife to follow that will enable us to achieve what your book’s title suggests. I would appreciate your review of this four step plan to provide advice in three areas:
1. Is the plan doable? Do current Social Security rules allow for each of the four steps?
I am 62 and currently receiveing SSD of 1241, wife is 61 nand was considering filing for SSI at 62 in March. Is this a good idea and whAt is this partial SS off my benefits? Could she get that?
Hi,
By SSI, I assume you're referring to Social Security Insurance and not Supplemental Security Income, the latter of which is a needs based benefit administered by Social Security for individuals who are disabled, blind or age 65 or older.
Background:
Husband, (Civil Engineer), will turn 66 in September,2019. He plans to continue to work until age 70 to maximize his Social Security benefits.
Wife, (former legal secretary). will turn 66 in December, 2019. She has been on disability (for blindness) for 22 years. but did work for more than
80 quarters prior to disability.Plan:
Wife's disability will automatically convert to Social Security at age 66 in December, 2019. She draws $1,568/month.
My wife is exactly 3 years younger then me and I intend to start my social security at 66 1/2 when I will receive $3000/mo. I plan to start my wife at 62 where she will receive $750/mo based on her earnings and when I start taking benefits I believe she would receive about $1200/mo based on 1/2 my spousal earning less about 15% for her taking it well before her full retirement age. From what I read that is supposed to be the best strategy.
Turned 66 in July. Have not applied for SS benefits. I've heard that it is critical to apply at a certain time (month) of the year to take full benefit of the recalculation each year while I'm still working. I will work until 70, at $104K/year...which will make up for those lean years as they drop out of the calculations. What month of the year is the best time to begin SS?
Hi,
I plan on applying for social security benefits at age 62( born 1961) and also apply for benefit for my son who will be 14 yrs old. Is this the best strategy rather than waiting till full retirement age of 67? What are the risks for me and for my wife who is 8 years younger? My social security benefit at age 62 is $1882.00 vs $2794 at age 67.
Hi,
My husband, born 12/28/53, will reach FRA (66) in December 2019. He will still be working. His PIA is currently estimated at $1864 per month at FRA and $2589 per month at 70. Some of his 35 highest earnings records are "0", so I am assuming his PIA will increase as long as he continues to work for a few more years at least.
Hello Larry,
My husband reached FRA 66 in May of this year (born May 1953). I turn 66 FRA (born July 1954) next year. I purchased Maxifi and have been putting in info. The report seems to suggest my husband file spousal benefits next year when I file for my SS. I thought that spousal benefits were a thing of the past with law passed in 2016. I am confused as to what actually that means. Is that 50% of my benefit? If correct, would he then not be able to change that and file for this full retirement benefit till age 70?
Hello Larry - I purchased both books - Get What's Yours for Social Security and the one for Medicare. I have a fairly simple situation but can't seem to pinpoint the answer in the material. Wife reached FRA in May of this year 2019 and husband will reach FRA in November of this year. Wife has little to no earnings record as a stay at home mom and 1/2 of husband's benefit will be much higher. Since she is now FRA should she file now? or should she wait until he reaches FRA in November 2019? I think I read he must also be taking benefits.