<p>I’m too lazy to drudge through this information. But I’m a Social Security Employee.</p>
<p>You can file early but the reduction is around 7-8% for every year you retire before your full retirement age. You can draw your spouse benefit while they are alive it is 50% of their indexed PIA (primary insurance amount) less reduction for age. You can do one or the other. You do not get both you get the difference from the higher. </p>
<p>Example
You draw $200
Spouse draws $800 on their own record.</p>
<p>You’d be eligible for $400 on spousal record. So if you were already drawing you’d receive $200 and $200 from your spouses record as an auxilary. Reduction comes on from the point you draw, even if the date of entitlement is different on each record.</p>
<p>Message me if you have a specific question or just let me know if there is a question on this thread.</p>
<p>I give up. I don’t understand a word you said. Lol It’s not you, I’m sure it’s me. Oh well, I have many years to figure it out. :)</p>
<p>I have a hard time understanding SS, too. Thanks for the offer, Santookie, I’ll take you up on it. My husband and I have both worked our entire adult lives, plenty of SS credits. He is older. If he starts taking SS at full retirement age, I take it I can’t take the wife’s half payment until I get to full retirement age? Once I do, can I start the wife’s payment, and delay my own claim until I am 70?</p>
<p>A previous question alluded to this, but I’d like to clarify. My friend’s husband was collecting SS and was significantly older than she. He died. She is still working and won’t reach her retirement age (be SS eligible) for several years. Can she draw his SS as his widow now or will she need to wait until she is old enough? There are no children/other extenuating circumstances. I’m almost certain she must be retirement age to collect his benefits…</p>
<p>I learned a lot about SS from the Kiplinger’s retirement magazine. I’m aware of some the loop holes to do with SS, unfortunately this loophole was closed.
Years ago, most money magazine suggested to take out SS the earlies you can, which is age 62. Lately, it seems to be the opposite, most magazine suggests to delay it as late as you can, which is age 70. But I think this depends on your situation. My husband will take out at 66. I will wait until I’m 70 to take out my SS because when I turn 66, I can get half of my husband’s social security. Taking SS as early as 62 will permanently reduce you SS by 25%(or something close like that) so it’s not a good idea.</p>
<p>I am planning to contact SS office directly with questions. So far, all that I read I just Google and the sites on the top usually are SSA sites.<br>
Thanks for pointing out that "Social Security Administration spokesman Mike Webb said only one member of the couple can use file-and-suspend. " I will definitely look into it.</p>