Can my ex-wife claim at 62 then suspend so I can collect an ex-spousal benefit based on her earnings record?
Full question: I am divorced, was married for over 10 years and did not remarry. Can my ex-wife at 62 claim and suspend so I can collect 50% of her benefit? And does that effect her benefit? Hello! The ability to file (claim) and suspend Social Security retirement benefits was phased out for couples and…Read More
Can my wife and I use the restricted application filing strategy?
Full question: I was born in 1953 and my wife was born in 1958. I would like to wait to start collecting until age 70 in 2023. Can we use the restricted application filing strategy? Hi there! Yes, you may be able to use this claiming strategy. Since your wife is 62 in 2020, she…Read More
What would my family receive in Social Security benefits if I start collecting now at age 63 vs. waiting to collect at my FRA?
Full Question: Should I retire and pull benefits? This is probably a question you have been asked a million times – but some facts: I am 63 years and 7 months old (on the 22nd) and I am eligible to retire. My wife is 10 years younger than me. We both work for the state…Read More
I want to retire at 62, but my friends told me it is better to wait. What should I do?
Hi there, This is a very common question and unfortunately, I can’t give you an exact answer without doing a thorough analysis. Choosing the optimal age to file for Social Security benefits is dependent on many factors including, but not limited to your current finances, your life expectancy, and your family. I suggest reading this…Read More
I think I made a mistake by claiming Social Security at age 62. Can I change my mind?
Hi there, Yes, you can change your mind, and this is known as withdrawing your application. You can reapply later. If you change your mind about starting your benefits, you can cancel your application for up to 12 months after becoming entitled to retirement benefits. If you are already entitled to Medicare, you may choose to…Read More