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?
Unfortunately, the social security maximizing tricks are not available until you reach full retirement age.
Your husband, if he wants a benefit at age 62, will have a reduced benefit.
He cannot draw a spousal benefit and allow his own benefit to grow; he can, however, do that after the age of 66 which is full retirement age
Do you have any questions?
So, the only option is to wait until he is 66. He can not collect spousal benefits when he is 62 and I turn 66?
He can collect spousal benefits, but if his own benefit is larger it won't maximize your benefits. Further, the benefit is only 35% of your benefit when he is 62
So, he could collect the 35% of what I now receive until he is 66 or later when he would collect on his own earnings?
You could do that, but there's really no benefit. HIs benefit is reduced forever as if he took it at age 62. SO, if he wants his benefit at 62 the only option is really to take his own benefit
I understand. Our only choice is to claim his at 62 or wait until he is 66. The reduction in savings for me to wait until 66 was too great.
That's fine. If he needs to stop work, then it makes sense to retire early. The important thing is that it makes financial sense for your particular needs, and if you're concerned about dipping too much into savings then it does make sense to draw early.
You're doing the right thing.
Is there anything else that I can assist you with today?