My husband is 68. He will be 69 in September. He is still working. Currently if he drew SS he would be paying WREP of $224. Should he elect to draw his social security now?

Hi,

Dear Larry and Jerry, I have subscribed to Maximize my Social Security, and it has been helpful. However, I could not find answers to two questions, based on the following information:
A. I plan to retire at age 65 yr. 1 mo. (In just a few months from now). At that time, I will draw from an annuity investment.
B. I will try to wait as close to my full retirement age of 66 yr. 4 mo. to start taking Social Security; however, I am not sure if I will be able to wait over a year to apply for Social Security, for financial reasons.
Now my questions:

Hi- I am collecting Social Security .since age 70 and am still working full time. I see that SS is still deducting about $8,000- per year from my check. Since I am collecting, this does not seem fair. Is this correct? Also, my wife of 41 years is now 65, going on 66, and has barely worked over her lifetime. Should she wait until she reaches 70 years of age to collect under my SS benefits or collect at 66 under my benefits? When she collects under either scenario, will it decrease my monthly benefit? Thank you.

Hi,

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?