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Dwayne B.
Dwayne B., Attorney
Category: Legal
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Experience:  Began practicing law in 1992
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What is the FAASF loophole in Social Security?

Customer Question

What is the FAASF loophole in Social Security?
Submitted: 1 year ago.
Category: Legal
Expert:  Dwayne B. replied 1 year ago.

Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts.

It's not really a loophole since the system was designed to allow this but FAASF stands for Filing As A Spouse First. Using this method the higher earning spouse first files a claim (usually as early as possible) on the lower earning spouse's social security benefits "as a spouse". That allows them to collect an extra amount to make ends meet while they continue putting depositing money with no withdrawals into the higher earning spouse's social security fund. This means when they finally do draw against that fund, usually when the higher earning spouse reaches age 70, the monthly benefits will be as high as possible.