Q & A
I’m 67. I retired at 62 after 34 years and elected to begin taking my SS benefits. My wife is 65 and just retired after 21 years of work. She hasn’t taken her SS benefits yet. Is there a smart strategy (I hear about spousal strategies) to employ here, or did I eliminate strategic moves by having taken benefits at 62? I’ve tried to research this, but can’t seem to get a definitive answer. thanks for your consideration.
Answer: Your filing eliminated your ability to file a restricted application for only spousal benefits off your wife’s record. You are still eligible to suspend your benefits. If your benefit is larger than hers, this may be a good move because your benefit would be the benefit for the survivor of the two of you. Read more…
Source: Dan Moisand, www.moisandfitzgerald.com, via www.marketwatch.com - 8-10-2015
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.