I realize you have a question about social security. My goal is to provide you with excellent service, and help you better understand your options.
How are you today?
The answer is "yes" you are entitled to your spousal benefit now, but it won't be a full 50% of your husband's benefits - that's because you would be drawing one year earlier than your full retirement age
Your full retirement age is 66
So what would my benefit be?
Is my benefit reduced by the amount I earn?
How do I apply as it certainly does not work on line?
Your benefit is about 45% of his benefit, because you drew early. It would not be based on your earnings, rather your husbands
Your benefit would be reduced $1 for every $2 you earn above $15,120 until you reach 66 and then there's no reduction
You can apply in person at a local office or by calling 1-800-772-1213
So if I earn over $100k then no sense in applying early?
Yes, that is correct
What if I apply in January 2014 since I will be 66 in the next calendar year?
If you apply in January, then you can make (let me check - it's different for the year you retire)
Please do - an not plannng to retire next year, but will turn 66 in May
Yes hold on - the value changes each year and I don't want to give you the 2012 figure
You can earn $40,080 between January and May and if you earn over that you're only reduced $1 for every $3 above that limit
So to summarize, given your earnings it's not worth your while to apply for benefits now. but, you can apply for benefits in January and have a lower earnings limit. The limit only applies from January-May. There's no limit on what you earn after you turn 66.
You can call 1-800-772-1213 when you're ready, or visit your local office
Thanks - that helped to clarify
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