Social Security Report

Q & A

Collecting Spousal Benefits – Impact on Future Benefits

Full Question: My wife is 67 years-old and retired after working 43 years as a Respiratory Therapist and started collecting Social Security benefits at age 65. I will be 68 Feb. 22, 2014. I am still working as a Principal Sourcing Agent and have been the higher wage earner and don’t plan to retire soon since I am relatively healthy and still a leader in cost reductions. Can I start to collect spousal benefits without reducing my future benefits? I am a bilateral below knee amputee that previously collected disability benefits for my family during rehab and physical therapy from 1969 through 1974 but have been gainfully employed ever since.

Answer: Yes, you can and should claim a spousal benefit off of your wife’s record. Just be sure to restrict your application to her spousal benefit and your retirement benefit will continue to earn delayed credits until you reach 70.

Source: Dan Moisand, MarketWatch.com – January 17, 2014

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