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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35348
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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I'm 63 in April and have a 401K with my company. Two Questions: (1)

Customer Question

I'm 63 in April and have a 401K with my company. Two Questions:
(1) I was wondering what would happen if I stopped working and lived off my 401K until 66? Would I get full SS at 66 even if I wasn't working but lived off my 401K.
(2) Under the above scenario, when would my wife (who has a minimum wage job and turns 63 in Sept) be able to claim 50% of my SS?
Submitted: 7 months ago.
Category: Social Security
Expert:  LawTalk replied 7 months ago.
Good afternoon,I'm Doug, and my goal is to provide you with excellent service today. You asked: (1) I was wondering what would happen if I stopped working and lived off my 401K until 66? Would I get full SS at 66 even if I wasn't working but lived off my 401K. You would get your full social security benefit at 66 but you would obviously not get any increases from continuing to pay into social security between now and age 66. (2) Under the above scenario, when would my wife (who has a minimum wage job and turns 63 in Sept) be able to claim 50% of my SS? She will be eligible to claim a spouse benefit as soon as you apply for social security---though to the extent that she will be less than 66 when she first applies, she would receive a bit less than the full 50% Id=f she waits to 66, she would then be entitled to the full 50%. You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.I wish you and yours the best in 2016,Doug
Expert:  LawTalk replied 7 months ago.
Good afternoon,Do you have any additional questions that you would like me to address for you?In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?Thanks in advance,Doug

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