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brogo13 View Drop Down
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Joined: 06 Nov 2009
Posts: 27 		Post Options Post Options   Quote brogo13 Quote  Post ReplyReply Direct Link To This Post Topic: SS strategy
    Posted: 29 Jul 2010 at 7:30am
I'm 59, looking forward to drawing my Social Security at 62 (about $1200/mo).  My wife is nearly 64 and could have already been drawing hers (about $200/mo), but she was and still is waiting [for me to reach 62] so she can draw as my spouse, i.e. about $600/mo without being "penalized" for having started hers "early" at 62.
Good idea?  Bad idea?  Thanks in advance for any opinions.  8r'
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brogo13 View Drop Down
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Posts: 27 		Post Options Post Options   Quote brogo13 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2010 at 1:44am
Originally posted by brogo13

I'm 59, looking forward to drawing my Social Security at 62 (about $1200/mo).  My wife is nearly 64 and could have already been drawing hers (about $200/mo), but she was and still is waiting [for me to reach 62] so she can draw as my spouse, i.e. about $600/mo without being "penalized" for having started hers "early" at 62.
Good idea?  Bad idea?  Thanks in advance for any opinions.  8r'
I agree that generally the longer she waits the more she can draw--sumpm like $210 now or $215 next year--and that as an individual waiting is moot.
But isn't half of $1200 still $600?  You know, "more"?  8r'
                                                                                                      Please help me.


Edited by brogo13 - 03 Aug 2010 at 9:22am
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brogo13 View Drop Down
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Posts: 27 		Post Options Post Options   Quote brogo13 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2010 at 12:06pm
I say she should have filed at 62 and is
still simply forfeiting her entitlement
(that she won't "be penalized").
What say y'all?
8r' 


Edited by brogo13 - 03 Aug 2010 at 12:11pm
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brogo13 View Drop Down
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Posts: 27 		Post Options Post Options   Quote brogo13 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2010 at 3:26pm
Duh.  Found it.  A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month.
Anyway it's [entirely] her call.
 8r'
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