With the Trump administration's threats of taking away Social Security, do you think it wise if 66 years old, to take Social security now rather than wait until age 70?

Hi,

I haven't heard any threats such as that, but Congress must pass bills in order to change the Social Security laws. I can't guarantee that there won't be any adverse changes to Social Security, but I'd be extremely surprised if any changes are made that would justify filing sooner than you had planned.

Best, Jerry

Hi Jerry,

Will I have a problem that I did not restrict the scope of my application when I applied for widow's benefits?

My husband retired at 58, took SS @ 62 and receives $1700 a mth. I am 63 with no income. He is 77, has been Ill, in and out of the hospital. What strategy should I use to optimize my benefits? 1/2 of his now minus % based on my age then mine @ 70? Mine now, about $600 till he dies? Hold out till I'm 66?

Hi,

I'm sorry to hear about your husband's health problems.

I started collecting SS at age 62{ 2015} at age 63 I qualified for SS disability benefit{ 2016}. My wife turns 62 in March 2017. Can she collect half of my benefit at 62 until she reaches 66 her full retirement age and then collect her full amount.

Hi,

follow up question.

Can/Should my spouse collect her SS based on her earning record from now until she is 66 then switch to Spousal Benefits?

Her current benefit is computed $297/month and at 70 $472. Her 50% spousal will be much , much higher.

Fred

Hi Fred,

The MaxMySocialSecurity calculations show that my spouse should file when she turns 64 and since I qualify to use the restricted application option (turned 62 before December 2015) that I should restrict my application to the spousal benefit when I turn 66 (same year she turns 64) and then switch to my benefit at 70. What I am not clear on is whether I receive 1/2 of her projected FRA (66 year old) benefit or 1/2 of her reduced benefit which is approximately 13% lower than her FRA benefit.

Hi,

I am evaluating various alternatives using your software and got a message that there was no benefit for my wife to wait to receive her spousal benefit until her FRA after I receive my retirement at my FRA. My birth date is 8/1952 and hers is 1/1954. Her retirement is much smaller than the spousal benefit. I understood from your book that she should wait to apply for spousal benefit until she reaches FRA to avoid a reduced spousal benefit. The program says to enter her receiving the spousal benefit when I receive the retirement benefit.

Thank you for taking the time to help clarify the intricacies of Social Security!

I'd like to confirm the amounts in the claiming strategy below.

I'm 60 (born 1956) and my wife is 55 (born 1961). Our birth month is the same. My FRA PIA per year is $28,000 and hers is $10,000.

hello,i have a question for you. my husband is older than i am of 7 years, he started collecting his social security benefits at age 62, i am still working and soon to be 65 years old in september and planning to retire at that time, my social security will be much higher than his, and i would like to collect payment from mine, i give up all my my rights from survival benefits from his, am i still entitled to received spousal benefits. if so when can i file and where for send the application to.