My wife is exactly 3 years younger then me and I intend to start my social security at 66 1/2 when I will receive $3000/mo. I plan to start my wife at 62 where she will receive $750/mo based on her earnings and when I start taking benefits I believe she would receive about $1200/mo based on 1/2 my spousal earning less about 15% for her taking it well before her full retirement age. From what I read that is supposed to be the best strategy.

Turned 66 in July. Have not applied for SS benefits. I've heard that it is critical to apply at a certain time (month) of the year to take full benefit of the recalculation each year while I'm still working. I will work until 70, at $104K/year...which will make up for those lean years as they drop out of the calculations. What month of the year is the best time to begin SS?

Hi,

I plan on applying for social security benefits at age 62( born 1961) and also apply for benefit for my son who will be 14 yrs old. Is this the best strategy rather than waiting till full retirement age of 67? What are the risks for me and for my wife who is 8 years younger? My social security benefit at age 62 is $1882.00 vs $2794 at age 67.

Hi,

My husband, born 12/28/53, will reach FRA (66) in December 2019. He will still be working. His PIA is currently estimated at $1864 per month at FRA and $2589 per month at 70. Some of his 35 highest earnings records are "0", so I am assuming his PIA will increase as long as he continues to work for a few more years at least.

Hello Larry,

My husband reached FRA 66 in May of this year (born May 1953). I turn 66 FRA (born July 1954) next year. I purchased Maxifi and have been putting in info. The report seems to suggest my husband file spousal benefits next year when I file for my SS. I thought that spousal benefits were a thing of the past with law passed in 2016. I am confused as to what actually that means. Is that 50% of my benefit? If correct, would he then not be able to change that and file for this full retirement benefit till age 70?

Hello Larry - I purchased both books - Get What's Yours for Social Security and the one for Medicare. I have a fairly simple situation but can't seem to pinpoint the answer in the material. Wife reached FRA in May of this year 2019 and husband will reach FRA in November of this year. Wife has little to no earnings record as a stay at home mom and 1/2 of husband's benefit will be much higher. Since she is now FRA should she file now? or should she wait until he reaches FRA in November 2019? I think I read he must also be taking benefits.

Spouse & I both waited until full retirement age of 66 to begin Social Security however I took a spousal benefit & let me own benefit mature. I will be 70 in November. If I start my own benefit in June & I already received my spousal benefit, will I receive the additional amount between the two benefits? My own benefit “gross” would be @ $2319 vs spousal gross of $1405. Should I claim earlier than June of this year to get the additional difference amount less what was already paid to me under the spousal benefit?

My wife and I are 54 with a forecast PIA of $2500/mo at FRA and 62 with forecast PIA of $500/mo at FRA.
My thought is that there would be little downside for the older, lower PIA already retired worker to claim early now, and for the younger person with higher PIA continue to work and not claim till 70. Am I correct in my take that the reduction in benefits if claimed now would reduce the 62 yr old to $375 but when the 54 year old reaches FRA the spousal benefit would be $1250 less the $ 500 FRA amount plus the $375 individual benefit or $1125

Hello Larry:

My wife and I are both 57 (she is one month older). We will both be eligible for the maximum benefit at our full retirement age of 67. Is there a strategy or strategies we should look at that would allow one or both of us to collect the others spousal benefit(s) until 70 and then collect our own benefits?

Thanks,

Ray

Hi Ray,