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Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13521
Experience:  19+ years legal exp. - 10+ years owning/operating her own SSD Law practice.
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I am currently 64 and my wife is 60. I would like to wait

Customer Question

I am currently 64 and my wife is 60.
I would like to wait until my wife is 62 and let her file for her SS. I will then be 66 and would like to file for the spousal benefit. What percentage of her benefit will I be able to get?
At 70 I would then like to file for my SS and have my wife then take her sousal benefit. Will i then get the max? Will my wife get a full 50% of my FRA amount?
Will this be possible
Submitted: 1 year ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 1 year ago.

Good morning,

With regard to your post:

"I am currently 64 and my wife is 60. I would like to wait until my wife is 62 and let her file for her SS. ------- 62 is the first opportunity she will have. However, she will permanently suffer a reduced benefit, by about 25-30%.

"I will then be 66 and would like to file for the spousal benefit. ---- Sounds good, you will be one of the last groups of retirees that can file a "restricted spousal application", since the law just closed that off for those that are not at least 62 by end of 2015.

"What percentage of her benefit will I be able to get? ---- 50%

"At 70 I would then like to file for my SS and have my wife then take her sousal benefit. ------- You can switch to your own, yes. And, if her spousal is bigger than the SS she was collecting on her own, she can switch to spousal, certainly. However, it will be small than 50% of yours, because she had chosen to collect her portion early.

"Will i then get the max? ----- Yes, you will.

"Will my wife get a full 50% of my FRA amount? Will this be possible -------- No. She will get her amount that was reduced by 25-30%, plus the spousal boost. The spousal boost is the difference between her FULL amount (had she not taken early) and her full spousal. For instance, if her FULL is $1000 and your full is $2400, then her full spousal would be 1200. Her spousal boost would be $1200 - $1000 =$200. So if she took early, and only took her own, then that would be about $700/mo (because her $1000 would be reduced). When she switched to spousal, she'd get the $700 plus her spousal boost of $200 = 900. If she'd waited and not started early, she get the full $1200 spousal.

Expert:  Stephanie O Joy, Esq replied 1 year ago.

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Expert:  Stephanie O Joy, Esq replied 1 year ago.

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