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ShawnA
ShawnA, SS Expert, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS , Decades of experience helping clients..
Category: Social Security
Satisfied Customers: 2884
Experience:  SS Expert, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience helping clients..
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I am now collecting a benefit of 955.00 per month. I am 65

Customer Question

I am now collecting a benefit of 955.00 per month. I am 65 and have been collecting since I turned 62. I will be at full retirement age in April 2016 and was wondering if I will collect 50% of my husbands benefits which is 2536.00 per month. My husband and I can't figure it out even after reading several things on the internet.
Submitted: 1 year ago.
Category: Social Security
Expert:  ShawnA replied 1 year ago.
I have been helping clients with SS issues for decades. many times providing advice that reversed what they had been told by SS.
Please stay on line until we are complete. Is this possible?
Expert:  ShawnA replied 1 year ago.
I await your response. In the interim I will respond.
There is a misconception that despite taking SOME reduced benefit at age 62 will somehow transition into a 100% benefit if you change something at age 66.
Expert:  ShawnA replied 1 year ago.
Unfortunately once a person begins collecting SS befits prior to FRA (full retirement Age-66), that person gets a % reduction doen from 100% (they would get 100% of whatever at FRA).
Are you able to stay with me online?
Do you understand what I have explained so far?
Expert:  ShawnA replied 1 year ago.
Are you able to stay with me online?
Do you understand what I have explained so far?
I'm so sorry. I forgot to offer you a telephone discussion (most people prefer that). I will send an offer and all you need do is accept. Alternatively we can text back and forth.
Expert:  ShawnA replied 1 year ago.
There are significant other factors that should be considered.
Health of both spouses, the "need: for the funds, heirs, etc.
Expert:  ShawnA replied 1 year ago.
I'm sorry. That last post was meant for another client.
Expert:  ShawnA replied 1 year ago.
You left before I was done and I'm not sue you understood.
At age 66 she can get the maximum benefit of spousal (50%) times her reduction factor.
2356 x 50% x the reduction factor (70%)= what she will receive.
She will NOT get 50% of the 2356.
If you understand this please rate me in order that I get paid.
I am available for additional text or a telephone discussion. This is why I prefer telephone. You get a complete answer and there is no need to go back and forth.