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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 11997
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 have been on social security for almost 6 years, beginning

Customer Question

Hello. I have been on social security for almost 6 years, beginning when I was 60. I took my husband's social security (he had passed away).
I am now almost 66 and was told that I can choose between the benefits I receive now and those that are allotted to me on my social security number - whichever one is higher. Is this correct?
Thanks.
Submitted: 11 months ago.
Category: Social Security
Expert:  Lane replied 11 months ago.

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

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That's exactly right ... although you can't "stack" two different benefits, if your benefit on your own record is higher, you can file for that and they will pay you a combination of the teo that takes you TO that higher amount.

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Also, you should know that if your own work record isn't higher (or even much higher) you will get an additional 8% on your own benefit for every year you wait to file (up to age 70)

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With compounding that ends up being a 36% higher benefit (waiting from 66 to 70)

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Expert:  Lane replied 11 months ago.

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

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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

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Thank you!

Lane

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.

Customer: replied 11 months ago.
Thanks very much Lane.
Expert:  Lane replied 11 months ago.

You're very welcome ... Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …is thanks enough!

That's the only way I'll be credited for the work here

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Thank you,

Lane