Hi Larry. I really look forward to your Ask Encore columns. You always seem to select pertinent questions and provide comprehensible answers. My wife is 21 months older than me. She will reach her full retirement age in June 2020. Her individual SS retirement benefit based on her own work history will be considerably smaller than her spousal benefit based on my work history.

Hello, I am 67 years old and when I turned 65 I had delayed getting SSA benefits because I understood that with each year I wait, the benefit amount grows by about 8 percent or so. However, does this growth happen automatically, or was I supposed to somehow activate my SSA benefits at 65 but then pause/freeze it until I am ready to start collecting in a couple of years? I don't see anywhere in my SSA account/mailings that would reflect this ~8 percent yearly increase. Question 2: my wife is soon turning 65, but her own SSA would be very low since she did not work much.

Dear Larry,

My DOB is 12-22-53 and my PIA is $2771. My wife's DOB is -7-06-59 and her PIA is $2148. In 2021, our strategy is to have her claim a reduced social security benefit at age 62 (~$1530), and I will claim a spousal benefit ($1074). Upon my reaching 70, I will then claim my increased social security benefit of ~$3658. Are my numbers and thinking correct to you?

Thx and Regards, Joe

Hi Joe,

I am 66 and my wife is 65 (Born August 1954). I am still working, but plan on retiring at 67. My wife is now retired. Another program suggested that she take her social security benefit now and that I file a restricted application and take a spousal benefit until I turn age 70.

Thoughts on this approach versus both taking benefits when I am 67 and she is 66, or both waiting until we are 70?

Hi,

I filed for SS benefits in January 2018 at age 65 and turned 66 (FRA) four months later in April 2018. My income was considerably lower than my husband, who is 6 months younger, and is also retired. He is currently drawing half of my benefit, after he turned FRA, and delaying his benefit. Did I make a mistake by drawing mine those four months early if he should die before me? Would I still be able to receive his larger benefit because he delayed? Thank you, Lucy

Hi Lucy,

I was born 12/8/1953 and my husband was born 1/13/1954, so we will both be at FRA within a few months. We have been married 40 years. We are interested in taking advantage of the spousal benefit, since I was born before the cutoff for this benefit. I'm not sure which of us needs to file a restricted claim for the spousal benefit and which of us files a regular claim. Thank for your help!

Hi,

Hi Larry. My wife and I were both born in 1953 (ages 66). If my wife applies for her full SS retirement benefits off her record now, and then switches and applies for higher spousal benefits (50% off my record when I file for delayed retirement benefits at age 70, will her spousal benefit then be 50% of my retirement as calculated at my full retirement age of 66 (I'm not retiring then) or will her benefit be 50% of my delayed retirement benefit as calculated at age 70 when I retire?

Which plan gives us the best long-term strategy as a couple?

Slight twist to an earlier question on the best claiming strategy for our situation:
I haven't been able to get an answer from Social Security yet!

Both healthy - expect to live into mid-eighties or later. Strong investments; don't need the social security money for living expenses. We plan to invest the money.

Hi
I was married for 15 years, have been divorced 14 years, not remarried. I am now 63, my ex spouse is 73. My financial advisor says I need to know what my survivor's benefit would be if my ex spouse predeceases me in order to determine the best time to file for my own SS benefit.

My husband will be 64 in March 2020, and I will be 64 in May 2020. I am considering taking my SS April or May of 2020. If I take mine early I understand that it will be reduced. But when he takes his, at FRA (66& 4 mos.) can I then switch to spousal and still get 50% of his FRA amount, or will my spousal benefits also be reduced because I took mine early? I get different answers on this question

Hi,