Hi, My husband is 73 and began taking SS at 62. He got Parkinson's and cancer at about that time, but was told he wasn't eligible for disability because he had not worked enough (he was a stay at home Dad for a number of years). He has an ex-wife from 50!! years ago that is getting his spousal SS. I am 60 and we have been married 32 years and have 2 children together. I would like to retire but keep working because of his health care needs. I hope to retire when I'm 61-62 even though it's not fiscally wise. I would like a year or two of retirement before health problems. I don't know what to do about SS. Will I be eligible for spousal benefits? When should I take my SS? Thanks for taking my questions.

Hi,

First off, any benefits paid to your husband's ex-wife will have no adverse affect on you. Reduced spousal benefits can be payable as early as age 62, however, there is an earnings test that could limit your ability to receive benefits until you retire or reach full retirement age. Social Security withholds $1 in benefits for each $2 of earnings in excess of an exempt amount, which is set at $15,720 this year.

Whenever you do file, you will be deemed to be applying for both spousal benefits and retirement benefits on your own record. You will essentially receive the higher of the 2 benefits. If you file at full retirement age, you will receive 100% of your full retirement age benefit (PIA), plus any excess spousal benefit you may qualify for. You will only get an excess spousal benefit if one-half of your husband's PIA is more than your own PIA. If you file for reduced benefits at age 62, your benefits will be reduced to about 74% of your PIA, plus a similar reduction to any excess spousal benefit payable. If you wait until age 70 to apply, your benefit will likely amount to around 130% of your PIA.

No matter when you start retirement, and potentially excess spousal benefits, if your husband dies before you you can get his benefit instead of yours if his benefit is higher. Since he took retirement benefits at age 62, you may even be eligible for a bit more on his record than he receives. You won't get both your own and his, though, just the higher of the two.

You mention 2 children, but not their ages. If they are over age 19 and not disabled, they would no longer be eligible for child's benefits on your husband's record. If you have a child under 16, or a disabled older child, entitled on your husband's account, it would be possible for you to be eligible for spousal benefits earlier than age 62, but the earnings test would still apply. There is also a family maximum benefit that could limit payments if both you and a child or children were entitled.

You may wish to consider running the maximization software available on this website in order to help sort out your options and make the best decision.

Best, Jerry