Comments on: Understanding the Social Security Claim and Suspend Strategy http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=understanding-social-security-claim-suspend-strategy A Baby Boomer's Journey from Retirement Planning to Retirement Living Mon, 21 May 2012 17:39:02 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Stan http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-3950 Stan Sat, 07 Jan 2012 22:05:33 +0000 http://gotoretirement.com/?p=4395#comment-3950 I am the much bigger earner. My wife is three and half years my senior. My plan is for my wife and I to apply for benefits to begin when she is 66 and I am 62.5 (application planned for 3 months before her 66th birthday). Are you telling me that either (1) that I will NOT be permitted to suspend (I plan to keep working until at least 70) or, that my wife will not be eligible for spousal benefits after I suspend; but will only be able to collect on her own (much lower) work record? I am the much bigger earner. My wife is three and half years my senior. My plan is for my wife and I to apply for benefits to begin when she is 66 and I am 62.5 (application planned for 3 months before her 66th birthday). Are you telling me that either (1) that I will NOT be permitted to suspend (I plan to keep working until at least 70) or, that my wife will not be eligible for spousal benefits after I suspend; but will only be able to collect on her own (much lower) work record?

]]> By: Gwennie http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-3212 Gwennie Sun, 21 Nov 2010 12:13:05 +0000 http://gotoretirement.com/?p=4395#comment-3212 I am waiting for your answer to Chrstine Berg, above. I am 48 and my husband is 61. We have 8 year old triplets. We plan for him to file and suspend at 62 so that they can receive benefits on his record (he will receive maximum benefits whatever he does). Our math (and research from other reputable sources) tells us that--because there are 3 of them--the partial benefit they would receive is over the family maximum, so there is no reason for him to "not" file and suspend at 62. Would love your feedback on this--thanks! I am waiting for your answer to Chrstine Berg, above. I am 48 and my husband is 61. We have 8 year old triplets. We plan for him to file and suspend at 62 so that they can receive benefits on his record (he will receive maximum benefits whatever he does). Our math (and research from other reputable sources) tells us that–because there are 3 of them–the partial benefit they would receive is over the family maximum, so there is no reason for him to “not” file and suspend at 62. Would love your feedback on this–thanks!

]]> By: gordon http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2775 gordon Tue, 10 Aug 2010 17:46:03 +0000 http://gotoretirement.com/?p=4395#comment-2775 hi I will retate what I meant using your more correct vocabulary. When my wife turned 62 she began receiving benefits on her account. No problem there, of course. On the same date, I, already 66, filed as her spouse. This works for delaying my claim on my account allowing my ultimate bednefits to grow 8% per year. in the meantime I receive 1/2 of what my wife would have received if she had waited until she was 66. Bottom line, I am receiving $500 per month AND my own benefit account is growing at 8% and I can switch to that account whenever I want. I was told by the SS guy that this is perfectly legal, is rarely done, and he called it "A vs B". hi I will retate what I meant using your more correct vocabulary.
When my wife turned 62 she began receiving benefits on her account. No problem there, of course. On the same date, I, already 66, filed as her spouse. This works for delaying my claim on my account allowing my ultimate bednefits to grow 8% per year. in the meantime I receive 1/2 of what my wife would have received if she had waited until she was 66. Bottom line, I am receiving $500 per month AND my own benefit account is growing at 8% and I can switch to that account whenever I want. I was told by the SS guy that this is perfectly legal, is rarely done, and he called it “A vs B”.

]]> By: Chrstine Berg http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2772 Chrstine Berg Sun, 08 Aug 2010 19:35:44 +0000 http://gotoretirement.com/?p=4395#comment-2772 Mr. Go To are you still around, you are saying you cannot claim and suspend at 62 , correct? What happens if a person has a disabled adult child and both parents have a situation where they are entitled to say over $1,000 a month due to substantial earnings. One Parent works, the other other works but does not receive wage income, the parent who works probably cannot get SS at 62 due to earnings being too high. What happens if you have a DAC before 22 or other dependents? Mr. Go To are you still around, you are saying you cannot claim and suspend at 62 , correct? What happens if a person has a disabled adult child and both parents have a situation where they are entitled to say over $1,000 a month due to substantial earnings. One Parent works, the other other works but does not receive wage income, the parent who works probably cannot get SS at 62 due to earnings being too high.

What happens if you have a DAC before 22 or other dependents?

]]> By: Mr. GoTo http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2470 Mr. GoTo Mon, 03 May 2010 22:36:08 +0000 http://gotoretirement.com/?p=4395#comment-2470 I do not think this will work. You can't claim and suspend your own benefit, then claim a spousal benefit that is lower than the suspended benefit to which you are entitled. I do not think this will work. You can’t claim and suspend your own benefit, then claim a spousal benefit that is lower than the suspended benefit to which you are entitled.

]]> By: gordon http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2469 gordon Mon, 03 May 2010 21:45:41 +0000 http://gotoretirement.com/?p=4395#comment-2469 I am 66. My wife will turn 62 in July. At that time our intention is for her to begin collecting her SS (about $750 per month). I, at the same time, will file, suspecd and claim as her spouse. Because I am at full retirement age I will get 1/2 of my wife's full benefit (what she would have collected at 66)or 1/2 of $1000 (not 1/2 of $750). We will conmtinue with this until I am 70 (or sooner at my option) and I will then UNsuspend and begin collecting my full benefit enhanced at 8% per year for every year I have delayed beyond 66. Under no circumstances can my wife ever collect more than her $750 (plus inflation) until I die and then she will collect an amount equal to what I received in the month before my death. Does everyone agree that this works? Thank you. gmg I am 66. My wife will turn 62 in July. At that time our intention is for her to begin collecting her SS (about $750 per month). I, at the same time, will file, suspecd and claim as her spouse. Because I am at full retirement age I will get 1/2 of my wife’s full benefit (what she would have collected at 66)or 1/2 of $1000 (not 1/2 of $750). We will conmtinue with this until I am 70 (or sooner at my option) and I will then UNsuspend and begin collecting my full benefit enhanced at 8% per year for every year I have delayed beyond 66. Under no circumstances can my wife ever collect more than her $750 (plus inflation) until I die and then she will collect an amount equal to what I received in the month before my death. Does everyone agree that this works?
Thank you. gmg

]]> By: Mr. GoTo http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2319 Mr. GoTo Wed, 10 Mar 2010 20:21:47 +0000 http://gotoretirement.com/?p=4395#comment-2319 Chris: Your wife can file on her own benefits at age 62 then switch to a spousal benefit but since she claimed a benefit before full retirement age, her spousal benefit will be permanently reduced. As for her using a "claim and suspend" strategy on her own record, I don't understand what benefit either of you would gain from doing that. Maybe I don't understand exactly what you are contemplating. Chris: Your wife can file on her own benefits at age 62 then switch to a spousal benefit but since she claimed a benefit before full retirement age, her spousal benefit will be permanently reduced. As for her using a “claim and suspend” strategy on her own record, I don’t understand what benefit either of you would gain from doing that. Maybe I don’t understand exactly what you are contemplating.

]]> By: Chris Patrick http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2318 Chris Patrick Wed, 10 Mar 2010 20:09:13 +0000 http://gotoretirement.com/?p=4395#comment-2318 Your articles are excellent and detailed. My Wife and I are same age, however she raised the kids, I paid for it. Question is, can my wife (the lower income spouse)file for benefits on her own work record at 62 and then switch to a spousal benefit when I plan to retire at 65. My FRA is 66. Alternative she file a claim and suspend at 65 or 66?? Please help I have read everything, no clarification. Chris Your articles are excellent and detailed.

My Wife and I are same age, however she raised the kids, I paid for it.
Question is, can my wife (the lower income spouse)file for benefits on her own work record at 62 and then switch to a spousal benefit when I plan to retire at 65. My FRA is 66. Alternative she file a claim and suspend at 65 or 66??
Please help I have read everything, no clarification.

Chris

]]> By: Paul http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2257 Paul Thu, 11 Feb 2010 00:34:54 +0000 http://gotoretirement.com/?p=4395#comment-2257 Your article helped clear up some questions I had about the claim and suspend policy, specifically that the higher wage earner must be at FRA and that the spouse's benefits will be reduced if she is not at FRA. My first question is, can my wife (the lower income spouse)file for benefits on her own work record at 62 and then switch to a spousal benefit when I turn 66 and file a claim and suspend? Second question. Assuming starts collecting SS at 62 on her own wages and keeps working (but making less than $14000 per year), does she continue to pay into the Social Security system and does her benefit increase because of additional working history? Your article helped clear up some questions I had about the claim and suspend policy, specifically that the higher wage earner must be at FRA and that the spouse’s benefits will be reduced if she is not at FRA.

My first question is, can my wife (the lower income spouse)file for benefits on her own work record at 62 and then switch to a spousal benefit when I turn 66 and file a claim and suspend?

Second question. Assuming starts collecting SS at 62 on her own wages and keeps working (but making less than $14000 per year), does she continue to pay into the Social Security system and does her benefit increase because of additional working history?

]]> By: John http://gotoretirement.com/2009/12/understanding-social-security-claim-suspend-strategy/comment-page-1/#comment-2157 John Thu, 14 Jan 2010 14:14:03 +0000 http://gotoretirement.com/?p=4395#comment-2157 Thanks for getting back to me and any insights are appreciated. We both want to claim and suspend because we would like both of our primary benefits to grow to the maximum. We called the SS office and they said we could each claim and suspend (and we would collect each other's spousal benefit). My benefit is almost exactly double my spouses. Also, I am still working so we don't need the benefit right now, but if we can take the spousal benefit and still increase the primary benefit that would be great. Thanks for getting back to me and any insights are appreciated. We both want to claim and suspend because we would like both of our primary benefits to grow to the maximum. We called the SS office and they said we could each claim and suspend (and we would collect each other’s spousal benefit). My benefit is almost exactly double my spouses. Also, I am still working so we don’t need the benefit right now, but if we can take the spousal benefit and still increase the primary benefit that would be great.

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