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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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I am currently 64 and still working (gross income of $125,000).

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I am currently 64 and still working (gross income of $125,000). My wife (never worked, stay-at-home mom all her life) is currently 68. Can I file & suspend my Social Security application, therefore allowing my wife to claim a spousal benefit now?

Megan C :

Thank you for your question. My name is XXXXX XXXXX I would be happy to assist you today

Megan C :

How are you doing?

Megan C :

Unfortunately, File and Suspend is only available to you when you reach full retirement age, which is currently age 66.

Megan C :

So, you could not file and suspend now, even though your wife is over full retirement age.

Megan C :

You can read about this, HERE

Customer:

Is there any way for my wife to claim a spousal benefit now?

Megan C :

The only way for your wife to receive a spousal benefit now, would be for you to file for social security benefits.

Megan C :

However, you would not actually receive benefits because of your work.

Megan C :

So, you could file now, and know that anything they pay you, they are going to want back. This would open your record and allow her to draw a benefit. Your benefit may not be as high as it would have been had you drawn at full retirement age, but the impacts would be negligible in my opinion

Customer:

I am not clear on what, "...and know that anything they pay you, they are going to want back" means.

Megan C :

Your benefit is reduced based on your work when you retire early. You make too much, and therefore are eligible for no benefit

Megan C :

But they may process your application and start giving you a benefit anyways, until they get information on your pay from the IRS

Megan C :

then they will show that they overpaid you and ask for that back

Megan C and other Social Security Specialists are ready to help you