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Ask Lane Your Own Question
Category: Social Security
Satisfied Customers: 11855
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 waited to take social security benefits until I reached 70

Customer Question

I waited to take social security benefits until I reached 70 years of age and began drawing benefits in January, 2014. I also continue to work.
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.
Customer: My wife who is 63 years old has retired from work and applied for benefits this morning. She was told that her drawing benefits would affect the amount I currently draw.
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: Can't think of anything else at the moment, except that I thought I would be grandfathered in against the new rule
Submitted: 11 months ago.
Category: Social Security
Expert:  Lane replied 11 months ago.

Hi, My name's Lane. I can help you here.


You wife's taking her benefit DOES NOT (in any way) affect your benefit.


There MAY have been a misunderstanding here. By her taking early, she IS lowering the aount that THE HOUSEHOLD could receive (because this is an early retirement).


Also, if her plan was to switch to a spousal benefit later, that amount could be reduced as well (under something called the excess spousal benefit limitation)


BUT your benefit will not, cannot, be affected at all.


Last fall, the Bipartisan Budget Act of 2015 changed the rules to eliminate two popular Social Security claiming strategies for married couples: File-and-Suspend, and Restricted Application.


But that doesn't apply to affect your existing benefit in any way.

Expert:  Lane replied 11 months ago.

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


If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

Otherwise I’m working for no crediting at all here


Thank you!


I hold a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, 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.

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