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Good afternoon Hutch, I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today. In order to give you a clear and concise answer, I will need some additional information about the circumstances, please.1. I'm not sure that I understand what you are asking. What sort of planning are you wanting to know about? Are you asking about the application process?Doug
Should she just apply at 66+ or should she wait until she's 70 or is their another option..say if I refund some of my SS payments, that would increase our total SS benifits?
I have received benifits for 121 months as of Sep '13(now about $1750/mo)
We have some 403(K) and Roth $ but wife now makes $30K/yr and that would be missed
Good afternoon Hutch, Thank you for the additional information. If you have been receiving benefits for more than a year, then you are not allowed to terminate your claim, pay it back and get a higher benefit later. While she can retire at 66 and receive her full social security benefit, for each year that she waits between age 66 and 70, her benefit will increase 8%. So, if she is capable of working and earning $30,000 per year for a time, and she isn't absolutely ready to retire, then it might benefit both of you to have her continue working another year or more, rather than taking her benefit at 66. Also, she may apply for a spouse benefit at that age and get 50% of what your benefit is, and allow her own benefit to increase to age 70. And she could also continue working and because she would be over 66, her work income would not adversely affect her spouse benefit. Then at age 70---or whenever she decided to stop working outside the home, she can switch to her own retirement benefit. That might be the best approach of all to consider. If you are getting $1750 a month now, she would get about $775 a month and still be able to work---making her income closer to $40,000 for the years she is also receiving her spouse benefit. Please keep in mind that, even though you have already paid your deposit money over to JustAnswer, until you rate me highly for my service, I will not be paid for having assisted you with your questions. If you have additional questions, you may of course reply back to me and I will be happy to continue to assist you further until your questions have been answered to your satisfaction. I wish you the best in your future. Doug
I appreciate your help...perhaps I will seek your council another time