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retirementlawyer
retirementlawyer, Tax Attorney
Category: Social Security
Satisfied Customers: 17080
Experience:  13 years experience in social security
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I am 62 and have begun to draw Social Security. My wife is

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I am 62 and have begun to draw Social Security. My wife is 62 also but is still employed and not drawing Social Security Benefits. What would be the best plan to maximize our benefit from the government? We are married now and would consider separation to enhance our payments

retirementlawyer :

Since you have taken social security early you will face an early penalty that will hurt you for a long time,

retirementlawyer :

it would be best for your wife to delay social security until age 66, where she would not have any earnings penalty,

retirementlawyer :

nor any reduction in benefits,

retirementlawyer :

if possible she can wait till age 70 and earn delayed credits, which would enhance her benefit significantly,

retirementlawyer :

and at that time you can switch to spousal benefits, which would be half her amount, and at that point you can be given that amount if higher than hers.

retirementlawyer :

Another option, is if you need the monthly income now,

retirementlawyer :

have her apply for benefits, now, and have her take the early penalty,

retirementlawyer :

and if she is working and making less than $15,120, she would not have any earnings penalty.

Customer:

Here are the numbers I get $1160 per month now and she will receive about $2200 per month at age 66. How much should we expect as a married couple at age 66 and will there be any benefits to divorce?

Customer:

She earns $100,000 now.

retirementlawyer :

no, there is no benefit to be divorced,

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