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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10122
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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I am 70 years old and I have been receiving social security

Customer Question

I am 70 years old and I have been receiving social security since I was 62. My wife has just turn 66 and would like to apply for 50 per cent of my benefits. She makes over $75,000 per year as an independent employee can she still get 50 per cent of my benefit?
Submitted: 1 month ago.
Category: Social Security
Expert:  Lane replied 1 month ago.

Hi, Yes ... although the bipartisan budget amendement last fall stopped the file and suspend strategy for thos that didn't turn 66 by last april... Because you wife was born before 1954, she can still do what called a "restricted application.

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This was grandathered, again, for those that were 62 or older in 2015,

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I'm attaching a graphic that illustrates

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Bear with me for a moment while I pull up the file

Expert:  Lane replied 1 month ago.

Here you go ... note the second column

Expert:  Lane replied 1 month ago.

Please let me know if you have any questions at all, before rating me.

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And if you DON'T have other questions Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …would be appreciated!

Otherwise I receive no compensation for the work.

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Thank you,

Lane

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, a Master’s Degree, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986

Expert:  Lane replied 1 month ago.

Hi, Just checking back in.

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Just to make sure I've covered everything... If the question your were asking was whether there would be any REDUCTION to her benefits for working, the answer to that is no.

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Once a worker turns retirement age (again, born between 1943 and 1954) they can work while receiving benefits with NO reduction in that benefit.

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So, again yes, your wife can take the spousal benefit, and that benefit will not be reduced.

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Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …would be appreciated