Larry, I am 65 and a teacher. I don't pay into social security through my teaching job, but did before I started teaching and still pay into through my part time job as an independent contract. At 66, I would get a little over $1,000.00 per month in social security minus the 40% windfall provision.

My wife is retiring this month. She is 62 years 7 months and would receive about 1,250 from social security right now.

We don't need the social security income right now and want to make the best possible decision.

Thank you,

MIke

The best strategy for taking SS benefits for my wife - I will take my SS at the age of 70, next year, July 1. (born in 1949). My wife is 15 years younger than I (born in 1964), and she never worked. What will be her best strategy in taking SS benefits? 1) if I'm alive at her retirement age, 2) if I die before her retirement age? We are married more than 30 years.Thank you.

Hi,

My wife is currently collecting disability. Her DOB is 3-17-53. She will reach FRA on 3-17-19. I am 60. My DOB is 1-24-1958. Is the best way to maximize our benefits, is for me to wait until 70? Do I need to file and suspend at my FRA of 66, 8 months? When I turn 70 and start collecting benefits, can my wife then apply for spousal benefits? And collect the spousal benefits instead of her own benefits.

Hi,

Topic: Filing strategy when large age difference.

If my son receives a Childhood Disability Benefit on my wife's much lower earnings record when she turns 62, he would be eligible for Medicare about five years earlier than if we both wait to our Full Retirement Age. Furthermore, if he remains on her record at that time, we would stay below the maximum family benefit, and my wife's total spousal benefit on my record would be nearly 50% of my PIA. (My son's smaller benefit would have no impact on his care and well being as he must remain eligible for Medicaid based support).

I am born November 1952. My wife started her Social security at FRA January 1, 2018. I would like to take my wife's spousal benefit in November 2018 (my FRA) and delay taking my full benefit until age 70. Is this a good strategy and what do I need to do when I file?
Thanks

Hi,

What you propose is likely a good strategy, but you may want to consider using our maximization software to be sure.

We were born in 1961 so our FRA is 67. I know you state to wait until 70 to collect SS but I am having a difficult time making sense of this. Combined SS at 70 for us would equal $5,500 per month. I would have to use almost $200,000 of my retirement funds to live on from the age of 67-70 ($5,500X36). This 200,000 would be invested in very conservative investments.

SPOUSAL BENEFITS if husband hasn't retired yet??

My husband and I are both 65 (our FRA is age 66 in 2019) I have been the higher wage earner. At FRA our benefits will be as follows:
Husband age 66 - $1,030
Wife age 66 - $1,539
We want to know if the following plan is in our best interest to maximize our benefits.
Husband files for SS now at age 65 - receives reduced amt.- $959/mo.
Wife files restricted application at age 66 and applies for spousal benefit - $479/mo
Monthly total for husband & wife between ages 65 until 70 = $1,438

I turn 66 this month (April 2018). My wife turns 66 at the end of August 2018. Due to an illness which is now in remission, I retired in 2015. My wife retired from teaching in 2016. Neither of us has yet filed for Soc. Sec. benefits. Both of us have filed for Medicare and have the code letter "T" following our claim numbers (meaning we only elected to receive health care insurance benefits and no Soc. Sec. retirment benefits yet).