I have been approved by SSA to receive survivor benefits. My FRA is 66. I'm scheduled to start receiving benefits at 65.4 months. I will be working 30 hours\week, and earnings limit is not an issue. My wages will not completely cover my monthly expenses so I will need to withdraw $8,000 from IRA in that time period.. Should I wait the 8 months and start collecting the survivor benefits at my FRA of 66?

Good afternoon Larry,
I'm 63 and my wife is 65+ and eligible for SSN. Her payments if taken now will be small, ~1,100 per month and mine are estimated at ~$4,000 if I work to 70. We both work, though her income is variable as a consultant. Would it make sense for her to apply for SSN now given the little increase from waiting until 70 and invest her monies in a Roth IRA? I understand she could actually receive additional SSN based upon mine and would like to understand its likelihood and how to apply for this.

Thanks

I read that social security is only funded until 2035. With the way that the federal government is spending money, I’m not confident in their ability to keep it funded. That being said I feel I should start receiving benefit as early as possible. I know in a perfect world it’s better to wait to start collecting but it far from perfect. I’d like to hear your thoughts about the funding beyond 2035. Thanks

I'm considering retirement in 3 months at age 64 1/2. In good health. C friends and family of cousins, who live 4 hours away, could use my help now, so having time to do this is important. I also want to travel while I'm healthy. I have no kids or sibs. I've got 75k in saved cash and about 1M in retirement savings (including $130k in Roth and HSA). My SS at FRA (66 & 10 months) will be about 2600/mo. I'll have a tiny pension of $270/mo at age 65. Question: Should I hold off collecting SS till FRA and live on cash and 401k for a year or more? Or start SS when I stop working?

I turn 70 on Nov 22, 2024 (I qualified for full retirement at 66 and zero months). Is there any difference in my monthly pay if I retire on Nov 22, 2024 or wait until Jan 1, 2025 to retire?

This is a two part question.
1) Our plan had been that my husband collect his social security at age 70. February of 2022.
Is there an advantage to claiming this year in November or December to take advantage a the huge cost of living increase. (He is no longer working so no advantage in collecting based on current income)
2) I don't turn 70 until November of next year. When he does claim by February, should I collect a spousal benefit and then could receive my own higher benefit when I turn 70?
Thank you!

Read the book. I’m not grandparented under 2015 SS law changes. So, married 20yrs and going strong, no disability, no dependent children or parents, no special qualifying circumstances for other benefits whatsoever and with the spousal benefit file suspend gambit unavailable to me, the only strategy available is to wait till FRA or, better, 70 and also keep working to up the value of my quarters worked formula?

What’s the best age to take Social Security ?

Hi Larry, My questions are in regard to your "Ask Larry" column from Sept 20, 2021about Spousal Benefits. We own and have read your book and re-read it many times. Thanks! In our case, my FRA is 66 and I will turn 68 in Dec of this year. My wife's FRA is 66 and 8 mo. She will turn 63 this month of Oct. I plan to file for my Social Security when I turn 68. According to your "timing" discussion, My "benefit start date" should be set to one day after my December birthday if I want to be considered to be age 68 at the time my benefit begins, correct?

I am 65 years old and currently not working. I plan to wait until FRA at 66 and 4 months to file. My wife is 63 and eligible to file under her own account if necessary. Our 22 year old Down Syndrome son has been disabled since birth. My son receives payment under SSI currently.
Is it best for me to wait until FRA?
Can my wife file at the same time as I at 64 under her own account or as spouse?
Can we file all 3 at the same time?
Are we subject to Family Maximum Benefit rules?
Thank you for your help on this.