I am a self employed, Can I start collecting retirement at age 60?
Also my wife is 62. I am 58, if she retired this year can I also collect( we are married 10 years)
Thank you

Hi,

No. The earliest that you can collect Social Security retirement benefits based on your own work record is at age 62. And, if you start drawing Social Security retirement benefits before you reach your full retirement age (FRA) of 67, your benefit rate will be reduced for age. The only way that you could collect Social Security benefits based on your own work record prior to age 62 is if you can qualify for Social Security disability (SSDI) benefits.

If your wife is age 62 she could potentially file for her Social Security retirement benefits at a reduced rate now. However, she couldn't qualify for spousal benefits based on your earnings history at least until you start drawing your benefits, nor could you qualify for spousal benefits on your wife's account unless she's drawing her benefits and you are at least age 62. Furthermore, in order to be eligible for spousal benefits your own primary insurance amount (PIA) would have to be less than 50% of your spouse's PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA).

You and your wife may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry