Since she can't draw anymore untill I reach FRA would it be to my advantage to go ahead and sign up for SS. From what I can find out I would draw approx. $2000.00 Why don't you determine what you will draw if you take it at FRA or even after, to earn that extra amount if you get closer to 70? That can also help her if she is ever widowed and gets widow benefits.
a month. I make $100.000 a year now. I know I would have to pay back a large amount of my SS check but would she not be able to draw more monthly if I was on SS. I can't say for sure, but if you were to draw 2000, then she would perhaps draw 1000 X 70% or 700. Less than $200/mo more? While you really need an accountant to figure the exact amounts, you'd end up possibly with a small retirement amount (a bit of a discount as well, for taking it early) and if that smaller amount you will be getting offsets her $200/mo, this may not be worth it. But you really need to get some exacting figures here. You will also likely pay higher taxes on your SS receipts, given the higher income, which you can possible avoid later. All of that needs to be taken into account. Have you considered having this analyzed, with your full financials, by a CPA specializing in social security retirement planning? It may very well be worth it.