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keeperumiami, Senior Tax Expert & Financial Planner
Category: Social Security
Satisfied Customers: 7195
Experience:  Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
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I am 67 and want to file to collect my social security

Customer Question

Hello. I am 67 and want to file to collect my social security benefits now (not wait until age 70). I will probably be eligible to collect the maximum PIA. My husband is 65, and one social security disability. What's our best strategy?
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. Is there anything else the retirement accountant should be aware of?
Customer: My estimated social security benefits are significantly greater than what my husband is currently getting on socail security disability, and also greater than what he is likely to get on regular social security $5 for the deposit: what is the full fee?
Submitted: 11 months ago.
Category: Social Security
Customer: replied 11 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  keeperumiami replied 11 months ago.

Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

Expert:  keeperumiami replied 11 months ago.

Well, first of all if your husband is on Social Security Disability, that benefit will automatically change to a retirement benefit in the same amount when he turns 66.

As far as your retirement benefits are concerned, since your benefits are substantially higher, then there really isn't any strategy to be employed, since you want to begin collecting your benefits now, so at this point your full retirement benefit will be increased by approximately 8% since you delayed receiving your benefits until age 67.

let me know if you still feel you need a phone consultation as the site charges extra for that (I don't control it) & I'm not sure what else I can tell you; I'm happy to answer any follow-up questions you may have.

Steve G.

Customer: replied 11 months ago.
Thank you, Steve. So there isn't any strategy like 'file and suspend' that applies?
Expert:  keeperumiami replied 11 months ago.

Not under the circumstances you describe; file & suspend would mean that you would not collect your benefits until age 70 and your husband would be entitled to a spousal benefit (1/2 of your benefit at age 66) which would likely be lower than his full retirement benefit. The wouldn't apply until your husband reached age 66, so that doesn't make any sense. When your husband reaches age 66, he could in theory file & suspend under the grandfather clause but you would have to see if the figures worked out at that time given the fact that he would forego his retirement benefits through age 70, depending upon what his retirement benefits are.

Steve G.

Customer: replied 11 months ago.
Thanks for the help!
Expert:  keeperumiami replied 11 months ago.

You're very welcome.

Please remember to rate my response as that is the only way I will receive my share of the payment you've already made to the site.

Thanks very much,

Steve G.