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Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16576
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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my wife is 5 years older than me and has paid into social security,

This answer was rated:

my wife is 5 years older than me and has paid into social security, but her benefit will be small based on her own work history. If she files for her own benefit at age 65 ( 1 year early) can she subsequently elect her spousal share based on my work history in 6 years and receive 1/2 of my benefit, or will her early election of her benefit early also diminish her entitlement to my benefit.

Also should i elect her spousal benefit as well....without affecting my entitlement when i turn 66?

Megan C :

Thank you for your question, my name is XXXXX XXXXX I would like to help you tonight

Megan C :

When your wife files for benefits early, her benefit is forever reduced, whether it be a benefit based on your record or her own record

Megan C :

However, if her entitlement on your record is greater than what she draws on her own, she can get the increased benefits

Megan C :

If you wanted to draw a spousal benefit and allow your own benefit to grow, you will be able to do that at full retirement age only. Also, she cannot get a spousal benefit until you file for your own benefit.

Customer:

so in order to sustain no reduction, she must wait to 66 to receive her full benefit, but will only be entitle to ss based on my history 5 years later when i become eligible.

Megan C :

That is correct - she can't draw a benefit off your record, until you start drawing your own benefit

Customer:

and i canot draw on her benefit until i am eligible for my own?

Megan C :

You can draw on her benefit starting at age 66. You cannot draw a spousal benefit early and allow your own benefit to grow, unfortunately

Customer:

thanks

Megan C :

You're welcome. Is there anything else that you need tonight?

Customer:

no thank you.

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