my question is fairly basic, i am single so there is no spousal concerns. i have two rental homes so i assume that is passive income, they are managed by a property management company. i have roughly 600K in savings, 100 in non tax deferred and about 500 in 401K assets. i am currently 63. my question is two fold, how do i calculate the tax advantages of claiming SS early, or delaying taking benefits, and how do i maximize medicare as well as SS when i claim? i really don't see many people addressing this. tax efficiency is my primary concern.
I will be 65 in August of this year. My second husband passed away after 8 years of marriage. I have been receiving widows benefits since I was 60. I'm still working so it has been only 3 or 4 payments a year. I was told it wouldn't make any difference in my SS benefits if I took the widow's benefits and could stay on them as long as I wanted to. I plan to retire at age 65 and continue with the survivor's benefits and then switch to my own social security at my full retirement age of 66 yrs and 2 mos. I am divorced from my first husband of 17 years. He is remarried.
I am 65 years of age and plan to claim my SS benefit at 66 & 2 months to get my normal benefit. My wife will soon be 62 and has earned a SS benefit that is substantially lower than mine as she worked minimally while we reared three children. My question relates to her filing for benefits at age 62. Will this in any way affect what she can draw once I begin claiming a benefit as well? When she reaches her full benefit age, will she be able to then claim the spousal benefit of 50% of my benefit? Will her claiming a benefit at age 62 affect her widow benefit? Thank you.
I will be 62 in Nov and no longer work. my x is 57 and still working. Will I be able to start my social security at 62 then draw on his when he turns 62 because he make more money? Would that be the best situation for me?
I plan to take my social security at my full retirement age of 66 and 2 months. In 3 years, when my spouse is 70 and files for his, I plan to file for spousal benefits which will be greater than my benefits. Is there any problem with this plan? Would my collecting benefits on my own impact the ability of my spouses's social security to grow at 8% until he collects at 70? I understand that my spousal benefit will be only 50% of his Primary Insurance Amount. Will the benefits we each receive when he is 70 be the same whether I ever collect on my own or not?
I am 66. My wife died 7 years ago at age 56.
I started collecting survivor benefits a couple of years ago and continue to do so.
My benefit is higher than hers.
Am I better of waiting to switch to my benefit now or waiting til I turn 70.
I have some health issues from cancer treatment I underwent in my 20s so I am probably not going to live to an old age.
I'm sorry for your loss.
My husband's birthday is 12/11/53 and mine is 01/09/1954. Can we use file and suspend for me to claim spousal and my husband would then wait till 70 to file.
No. You couldn't claim spousal benefits without also being deemed to apply for your own benefits at the same time, nor could you be paid spousal benefits at least until your husband starts drawing his own Social Security retirement benefits. That's because you were born after January 1 1954.
My wife is on dialysis and just started receiving disability. She is 62. Should she file for Social Security now
I'm sorry to hear about your wife's health problem.
I took SS a few months after my FRA in 2009. My wife is 62 this summer and would receive $1,085 then or $1,632 at her FRA. My SS monthly payment is approximately 30% more than her FRA benefit so she will have the widow's benefit in the future.
Hello Larry and thank you for reading my email . My question is we have a disabled adult child and my wife is 53 and I am 62 . What would be the benefit if any for my daughter or my wife if I were to retire at 62 or should I try another job being my doctor thinks I have worked in the field as a blue collar worker I have a pension coming due to my years of service and age . Per my social security record I have paid in since 1973 and I don’t know where to start or what to pursue I appreciate your response if you have the time . Thanks "..Mike