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QUESTION:
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Social Security strategy | | I am 64 and have been taking S.S. since age 62. I plan to pay back S.S. this year and delay reapplication. I plan to have my wife start her own reduced non-spousal benefit, which is less than mine, next year when she turns 62. When she turns 63, I will have turned 66 the day before. If I do not reapply until she turns 66( when I turn 69), will she continue to receive her own reduced non-spousal benefit or will she start receiving a reduced spousal benefit at 63. Also, if I decide instead to reapply at age 66, can she stay on her own reduced benefit until she turns 66 and then receive her un-reduced spousal benefit . My primary motivation is to maximize her survivors benefit which I believe I can do by waiting to age 66 before I reapply. I have been led to believe that if she effectively applies before me, that she would not have to take the reduced spousal benefit until I reapply. |  | asked by bobnhare, 4/21/2010 |
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Categories:
Retired, Social Security, Retirement Assets
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| ANSWERS: | | Answered by: Jason B, 04/27/10
Overall Rating:  Be the first to rate it. | Hi Bob,
To briefly answer your questions, our understanding of the Social Security Rules is that your wife will continue to receive her own non-spousal benefit, and can continue to do so even if you re-apply at age 66, until she as well reaches the age of 66. It is however important when evaluating social security strategy to look the rules over yourself and evaluate how the specifics of your situation pertains to them. You can do this by going to http://www.ssa.gov/retire2/yourspouse.htm.
You can also check out our articles concerning the very issue you are grappling with, namely optimizing you and your wife's social security. These can be found here: http://www.newretirement.com/Services/Social-Security-Benefits.aspx. Login to rate this answer: |
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