Q & A
I recently divorced after 25 years of marriage. My ex-wife is seven years older than me. She is currently 65. I am going to be 58. At age 62, may I receive her Social Security benefit? Is it advisable to do so?
Answer: You can start collecting reduced spousal benefits at 62. But you will also be forced to take your retirement benefit early. A better strategy may be to a) wait until you reach full retirement age — 66 in your case — and take just your spousal benefit and then b) wait until 70 to take your own retirement benefit, when it will be as much as 76 percent higher than if you take it at 62. Read more…
Source: Laurence Kotlikoff, via Forbes - July 31, 2014
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