Hi Larry. I turn 66 and my wife turns 65 next month. My FRA benefit is 2600 and my wife’s FRA benefit is 1100. Neither of us have applied for benefits and we’re considering the following strategy upon our birthdays next month:
My wife take her own benefit at 65, allowing me to take a spousal benefit simultaneously. I then switch to my own benefit at age 70, which will be 132% of my FRA benefit.
What are pros, cons and potential alternatives to this strategy? Much appreciated!

Hi,

We are planning to have my wife take her Social Security at 66 (FRA) and then I will claim 50% spousal benefit (I was born in Nov. 1953) via a restricted benefit claim. Then, when I am 70, I will claim my Social Security benefit (dropping my spousal benefit) and then switch my wife over to claim 50% spousal benefit now under my social security (which exceeds what she would have gotten had she waited to claim at 70 under her social security). Does this sound like an a-OK strategy?

Hi,

My wife and I signed up to start taking our Social Security benefits last month. Hopefully it will all go through as we planned. A couple of things that we were told in the office were not quite the way we understood they would be after reading your book.

We both wanted it to start in May since that is when Spouse A turns 66. Spouse B will be 65.5.

We are trying to maximize our benefits:
My wife will be 66 in June 2018, I wil be 66 in July 2018. My wife plans to file online this month (March) for full retirement benefits of $1619 beginning in June. My FRA is $1763. I plan to file a restricted application for spousal benefits in April 2018 and delay my retirement credits to age 70 in 2022. Is this still the best plan for us? Thank you!

Hi,

How do I maximize and use SSI as insurance?

I am 52, my wife is 56. I have a nice military pension, but if I pass away first, she will only get 55% of that, so SSI is important from an insurance perspective. At full retirement age, I will receive around $2200, she will receive about $1100. She will probably retire are 60, I will probably retire mid-60s. We have savings and pension that will help us delay until we can maximize our benefit.

Hi Larry, I read your book, cover to cover and it was very interesting. My wife and I also visited the Framingham Social Security last month. I remain confused.

Hi Larry, i will be 62 this year, is it true I can apply for social security now and then at 66 years old suspend benefits until 70 ?
Also the ex owes 57,000 dollars in back pay child support, he only pays 79.00 dollars a month court ordered. He has been on disability for over 25 years , he just turned 62 years old, will he then just be on regular social security?

Hi,

Hi Larry, I retired from the state 5 years ago with 35 years of service. I left my retirement money and DROP money with the state to receive monthly payments for the rest of my life. I was rehired with the state two months later making the same amount of money I was making when I left and doing the same job. Fast forward 5 years, I will be 62 next month (April) and I don't know whether I should start drawing my early SS at 62, but I would have to quit my full time job because my salary is over $40,000.

My wife reached FRA in Sept 2017, I reach FRA in April 2018. Because of WEP I figure my retirement benefit will be about 60% of full amount (there were several years after retirement that I did not earn much due to the Medical issues.) We are both working full time and neither of us has filed for any benefits under either Medicare or SSA. My wages now are $50K + a Medical Disability retirement from my 1st career (~ $36K). My wife is a substitute teacher and usually makes about $12K to $14K a year (and that is working every day of the school year), last year she earned $16.5K.

I am 71 receiving maximum benefit since age 70.my wife is 9.5 years younger,will be 62 in August.spousal benefits at her fra are higher than her benefits.should she take spousal benefit at 62 or wait till fra.i think break even would be when she’s 74 and I’m 83..
I’m in good health so if I expect to live longer than 83 she should wait.she will get my max benefit when I die ,correct?

Hi,