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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35309
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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My wife is turning 62 in November 2016 her early ret sum

Customer Question

My wife is turning 62 in November 2016 her early ret sum would be 705 per month I'm turning 62 in February 18 2017 and thinking of retiring April 30 2017 at approx 1900 month . If wife takes the 701 in December 2017 will she bump up to half of mine which would be 950 per month after I retire in may 2017
Submitted: 1 month ago.
Category: Social Security
Expert:  LawTalk replied 1 month ago.

Good morning,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today. I wanted to let you know that I am reviewing your question right now. Please give me a few minutes to either ask clarifying questions of you, or 10 to 15 minutes to prepare an answer and get it posted to you. Thanks in advance,

Doug

Expert:  LawTalk replied 1 month ago.

Good morning,

You wife will be allowed to switch over to a spouse benefit after having earlier taken her own early retirement benefit. However, if she does as you have laid out she will not get 50% of your benefit, but something substantially less. Let me explain.

Because your wife will not be full retirement age by the time that she takes her spouse benefit, she will not be eligible for the full 50% of your benefit. She would have to be at least 66 years old to get the full 50%. At just a couple months' past age 62, she will receive right at 35% of your retirement benefit. This is because you collect less of a benefit if you take that benefit before reaching your full retirement age of 66.

So, if you will be receiving $1,900 per month, she would only be eligible to receive about $665 per month. And because her own retirement benefit is higher than that, what it means is that she will not be eligible to take the spouse benefit at 62 and a few months. She will want to wait until she is 66 years old and then apply for her spouse benefit. That will maximize the benefit that she will be able to collect.

Then, if you die before she does, she will be eligible for a survivor benefit which will pay her 100% of the monthly amount that you happen to be receiving at the time of your passing.

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 1 month ago.

It is possible that your questions and issues might be better served by an in-depth conversation with me. If you are interested, for a very nominal charge I can offer you a private phone conference.

Please know that I answered your question in good faith, providing you with the information that you asked for, and I did that with the expectation that you would act likewise and rate my service to you. If I have already provided you with the information you asked for and you have no additional questions, would you please now rate my service to you so I can be compensated for assisting you? Rating me costs you nothing as you have already paid the deposit for my help. All rating does is ensure that I am paid for my time in working with you.

Thanks in advance for your rating of my service, It is greatly appreciated,

Doug

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