My husband, age 63, is collecting SSDI, $2032 per month. i am about to turn 60, still working . My estimated SS benefits are 1540 at FRA, and $2059 at age 70, although I do plan an working fewer hours after age 64, possibly cutting my income by 40%. What options are available for us? I have just purchased your book, but the information is overwhelming. Thank you for your help!

Hi,

Since you were born after January 1 1954, you will be deemed to be applying for your own retirement benefits if you apply for spousal benefits, so there's no way that you could claim spousal benefits while letting your own rate grow until age 70 (https://www.ssa.gov/planners/retire/deemedfaq.html). And, you can only get the higher of your own retirement benefit rate or your spousal rate, not both. Therefore, since your own benefit rate would be higher than your potential spousal rate, your options come down to when to start your retirement benefits.

Your retirement benefit rate will be at it's highest possible amount if you wait until age 70 to start drawing. You could start drawing at a reduced rate as early as age 62, but your benefits could be subject to full or partial withholding until you reach full retirement age (FRA) if you are still working and earn more than Social Security's earnings test exempt amount (https://www.ssa.gov/planners/retire/whileworking.html).

Regardless of when you start drawing your retirement benefits, if your husband dies before you and after you reach FRA. you would then be eligible for the higher of your own rate or your husband's full benefit rate. And, if your husband dies before you start drawing your retirement benefits you could potentially file just for widow's benefits while allowing your own benefit rate to grow until age 70.

You may want to strongly consider using our maximization software to explore your filing options so that you can determine which option you feel would be best for your set of circumstances.

Best, Jerry