How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16559
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
23669918
Type Your Social Security Question Here...
Megan C is online now
A new question is answered every 9 seconds

My wife is 67 and I am 57. She began receiving a meager benefit

This answer was rated:

My wife is 67 and I am 57. She began receiving a meager benefit on her own earnings at her full retirement age of 65. If I file and suspend at 62 can she begin receiving half of my PIA?

MyVirtualCPA :

I realize you have a question about social security. My goal is to help you better understand your options.

MyVirtualCPA :

How are you today?

MyVirtualCPA :

I hate to be the bearer of bad news, but in order to file and suspend, you would need to be full retirement age.

MyVirtualCPA :

http://www.socialsecuritychoices.com/info/fileandsuspend.php

MyVirtualCPA :

So, unfortunately you could not file and suspend at age 62

Customer:

My FRA is 66. Once I reach That age will my wife then be able to switch to a spousal benefit?

MyVirtualCPA :

Yes, that is correct

Customer:

Last point. I often hear commenters say that waiting increases the spousal benefit. My understanding is that she would be capped at half of my PIA until I die. What led to the original question is that I was surprised to hear that if I retired at 62 she would still receive half of my PIA although I would receive a reduced benefit. Is this too good to be true?

MyVirtualCPA :

That is correct, if you retired at age 62 she would get 1/2 of your PIA amount, not 1/2 of your reduced benefit

Customer:

Wow! Something to consider. Thanks and goodbye.

MyVirtualCPA :

You're welcome

Megan C and other Social Security Specialists are ready to help you
Thanks, David for your positive rating. Please come back and visit MyVirtualCPA for any of your tax, finance, or social security needs. It was a pleasure working with you today.

In a couple of days you may receive a short survey. I would appreciate it if you would fill out the survey favorably, as this will assist me with the rankings on this site. Thanks again.