I am 61 year old female divorced after 11 years. I earn a very modest salary and I do not own my own home. I rent an apartment. I checked my social security benefits and at age 62 I will receive $400 less monthly than if I wait until age 66 1/2. My question is should I begin collecting social security at age 62 to assist me with my living expenses which I do need help with until I can begin collecting 1/2 of my ex-husband's social security? I can earn the extra $400 monthly, no problem. I am very healthy and exercise, eat well, take care of myself well and I have no health problems.

Hi,

I can't fully answer your question with the limited information you've furnished. If your ex-spouse is at least age 62 and you've been divorced for at least 2 years, or if he's already drawing his benefits, then you'd be deemed to be filing for divorced spousal benefits at the same time you file for your own retirement benefits. In that case you'd essentially only receive the higher of the 2 benefits, and your benefit rate would be reduced if you start drawing prior to your full retirement age (FRA).

Even if your ex-spouse is younger than you and wouldn't qualify for divorced spousal benefits until later, when you file for your own benefits you'll be deemed to be filing for divorced spousal benefits as soon as you'd first be eligible for those benefits. And, if you start either or both benefits before you reach FRA, your combined benefit rate will be reduced for at least as long as both you and your ex are living.

For example, say Jan files for her retirement benefits at age 62. Jan's full retirement age rate (PIA) is $1000, but she receives a reduced rate of $725 in return for starting her benefits early. Jan's ex-husband to whom she was married for more than 10 years is 2 years younger than Jan and has a PIA of $2400. As soon as Jan's ex turns age 62, Jan would be deemed to have filed for divorced spousal benefits based on her earlier application for retirement benefits. Jan's unreduced divorced spousal rate would be $200, which is calculated by subtracting her PIA from 50% of her ex's PIA (i.e. $2400/2 - $1000). Jan's divorced spousal amount would then be reduced to $158 for starting at age 64. Jan's reduced excess divorced spousal benefit would then be added to her reduced retirement benefit to give her a combined rate of $883 (i.e. $725 + $158).

You should strongly consider using our maximization software in order to compare your various filing options so that you can determine your best overall strategy for claiming your benefits.

Best, Jerry