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: 12165
Experience:  Licensed CPA, CMA, CFE M.Accy Also Teach Accounting courses at Master's Level
Type Your Social Security Question Here...
Megan C is online now
A new question is answered every 9 seconds

My spouse is 10yrs younger. I am the higher earner. Are there

Resolved Question:

My spouse is 10yrs younger. I am the higher earner. Are there any pitfalls related to this age differential that I should think about if I am planning to collect reduced benefits at 62?
Submitted: 8 months ago.
Category: Social Security
Expert:  Megan C replied 8 months ago.

Megan C :

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.

Megan C :

How are you today?

Megan C :

The downfall that I can see on the age difference is that your wife's benefit would be reduced to 1/2 of your reduced benefit.

Megan C :

So, over time you may draw less money overall than if you had waited.

Customer:

Hello. I'm fine. So, when she claims her benefit at 62...it will be a reduction of a reduction

Megan C :

Oh and if she's 62 it will be even less ... only 35%

Megan C :

She would have to wait until her full retirement age, which is 67, to get a full 50% of your benefits

Customer:

do i only get 1 question

Megan C :

No you get as many as you can think of while we are sitting here :-)

Customer:

would her survivor benefit be 100?

Megan C :

Her survivor benefit would be 100% of your benefit if she drew it at age 67

Megan C :

If she draws it early it will be between 75% and up, depending on how old she is when she finally draws

Customer:

if i wait until 70yo...then here benefits would be 35% at 62....and 50% at 67?

Customer:

sorry. not 0

Customer:

not 70

Customer:

if i wait until 67

Megan C :

Your full retirement age is 66

Megan C :

If you wait until then, you get 100% of your benefit. She would still only get 35% of that amount if she drew at age 62

Customer:

ok. if i wait until 66

Customer:

thanks.

Megan C :

You're welcome

Customer:

got it. how does delaying from 66 to 70 work

Megan C :

You would get a larger benefit. It grows 8% per year

Megan C :

so your benefit could be as much as 32% higher

Customer:

this is great. last question(s)

Megan C :

Okay go ahead

Customer:

will she have the choice to claim her own benefits...vs...spousal?/

Megan C :

Yes, she always has a choice

Megan C :

If her benefit is higher, she can draw that.

Megan C :

If you pass away before she is full retirement age, she can draw the survivor benefit and allow her own benefit to grow to its maximum.

Customer:

makes sense. this is great. i wish i could think of more questions...

Megan C :

She can also draw the spousal benefit starting at age 67 and allow her own benefit to grow until age 70

Customer:

oh well. thank you for your time.

Customer:

that is good to know

Megan C :

But, she cannot draw the spousal benefit PRIOR to full retirement age and allow her benefit to grow

Customer:

makes sense

Megan C :

Do you have any more questions?

Customer:

one silly one

Customer:

do we have to continue to reside in the us

Megan C :

Never a silly question.

Megan C :

Where do you want to move, and are you US Citizens?

Customer:

i am a us citizen. but, if we were to move to say ....costa rica

Megan C :

Okay let me make sure you can continue your benefits indefinitely there

Customer:

does it depend on which country?

Megan C :

I just checked and costa rica is fine

Megan C :

There are certain countries that the Social Security administration won't send payments to

Customer:

where would i find that list?

Megan C :

It's countries that the US doesn't have good relations with

Megan C :

but let me get you the link

Megan C :

there's the link

Customer:

got it.

Megan C :

Do you have any more questions?

Customer:

when she decides to draw spousal benefits...does it impact my benefits

Megan C :

No it does not

Customer:

if my ex wife...of more than 10 years..unmarried....decides to draw...does it impact my benefits

Megan C :

No it does not, and it does not impact your wife's benefits either

Customer:

you are too good. thank you so much. i will use this service again.

Megan C :

Great! Come back and make sure you ask for me.

Megan C :

Also, before you leave, please rate the response as "excellent" so that I may receive credit for assisting you today

Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 12165
Experience: Licensed CPA, CMA, CFE M.Accy Also Teach Accounting courses at Master's Level
Megan C and 2 other Social Security Specialists are ready to help you
Expert:  Megan C replied 8 months ago.
Thanks so much for your positive rating! Please come back and ask for me next time you have a tax, finance, or social security question.

In a few days you may receive a short survey. Your positive feedback on that survey would be appreciated, as it will help me with rankings on the site. Thanks again for being a valued JustAnswer.com customer.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • dylatess

    ATTORNEY

    Satisfied Customers:

    3083
    35 plus years of SSD practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    ATTORNEY

    Satisfied Customers:

    3083
    35 plus years of SSD practice
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    2699
    Licensed CPA, CMA, CFE M.Accy Also Teach Accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/LA/LawTalk/2012-6-6_17379_LawTalk.64x64.JPG LawTalk's Avatar

    LawTalk

    Attorney

    Satisfied Customers:

    1112
    I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    285
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg R. Klein, EA's Avatar

    R. Klein, EA

    Accountant

    Satisfied Customers:

    253
    Tax matters relating to Social Security Benefits only
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    184
    Licensed in multiple jurisdictions, experienced business attorney.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    132
    25 years of experience helping people like you.