Filing Strategies

Can My Wife File For Spousal Benefits If I File And Suspend?

I am 66 years old (born in July 1953). My wife will be 62 next December (born December 1958). We were told that I could file and suspend next December (when she turns 62). At that time, will she be able to file for spousal benefits off my work record? In doing so, will she be able to accrue credits until she reaches full retirement age while I accrue benefits until I reach age 70?

Hi,

Does The Strategy Recommended By Social Security's Online Calculator Make Sense To You?

Hi Larry, My husband is 10 years older than me (66) and I'm (55). We were both born after January 1954. I am planning to work for the next 10 years, til I am 65. I love my job. My PIA is larger than my husband by a good amount, and will grow due to replacing low earning years with higher earning years (35 highest). I run the social security calculator online and it wants my husband to delay til 70 and me draw as early as 62 to maximize our benefits. But , if I draw that early, my salary will erode my benefits by 50%. So I'm not sure drawing early make sense for me.

If I File For Survivor Benefits At Age 62 And Switch To My Own Record At FRA Will Any Of The Money Withheld Due To My Earnings Be Reqained?

I am the higher earner and my spouse was the lower. If I draw survivor benefits at age 62 which will be heavily reduced due to continuing to work and the excess wages provision, will any of that money ever be gained when I switch to my own higher benefit at my FRA. Or, due to the fact that I am switching to my own earnings record are all the dollars lost due to excess wages forever gone. I was born in 1958.

Hi,

Is There A Disadvantage To My Husband Collecting A Restricted Spousal Benefit?

Hi I am wondering if there is a disadvantage to my husband collecting a SS restricted spousal benefit and waiting to collect his at age 70. We both will be full retirement age, with birth year 1953 for him and 1954 for myself. (I was the low earner and will switch to my spousal benefit when he files.) If I was to die before he collects his at age 70 could he switch from restricted spousal to receive a widower benefit on me while waiting to collect his?
Thank you for you input. I read and enjoyed both of your books. VW

Hi VW,

What Should We Do To Maximize Our Benefits?

i AM 66 YEARS OLD & APPLIED FOR MY SS BENEFITS (100%) THIS MONTH. MY MONTHLY BENEFIT IS $1650. MY WIFE IS 65 AND NOT WORKING BUT HAS MORE THAN ENOUGH CREDITS. I AM STILL WORKING AND IF POSSIBLE WILL WORK UP TO 70. WE WANT TO APPLY FOR MY WIFE WHEN SHE WILL BE 66 & 2 MONTHS. HER BENEFIT WILL BE LESS THAN 50% OF MY BENEFIT CAN YOU HELP US WHAT WE SHOULD DO TO MAXIMISE OUR BENEFITS?..

Hi,

How Can My Wife And I Determine If We Are Maximizing Our Social Security Benefits?

Good morning,
How can we determine that we (my wife and I) are maximizing our social security benefits?
Situation:
My wife started receiving SS at age 62 [2015] with a date of birth of 1953, military pension [2001], and disability [2001]. In terms, I started start receiving SS at age 62 [2018] as well with a date of birth of 1956 and military pension [1998].

Sincerely,
Lonnie

Hi Lonnie,

When Should I Take My Social Security?

Hopefully this won't be too complicated. Here is my situation. I have not signed up for SSI yet. I lost my job last June 30th. I just turned 65 last December. I still haven’t been able to get employment at this point and it’s not looking good. I have no other significant income. I just went online to check my monthly amount that I would receive at my full retirement age of 66 and it was $2879 a month. First question, will this amount decrease the longer I wait to take SSI, since I only worked a half a year in 2019 and possibly not at all in 2020?