Feldspar7
New Member
Cash: $ 0.90
Posts: 4
Joined: 12 Dec 2017
Location: Colorado
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I have not found clear answers to 2 questions, and thought someone here might know, or point me in the right direction.
1. Benefits increas the longer you wait after 62, up to age 70. But at what intervals do the increases kick in? In other words, will benefits be higher if I start at 62 years and 8 months vs. 62 years and 4 months, or do I not see an increase until I pass 63? Does every month (or week) you wait matter, or do only full years matter?
2. A non-working spouse can collect up to 50% of the worker's full retirement age benefit. But if the non-working spouse starts benefits at 62, they only get 35% of the full retirement age benefit. But if both retire at 62, what percentage of the worker's reduced benefit does the non-working spouse get? Let's say my full benefit if I did not retire early is $100. As I understand it, if my wife took benefits at 62, she would get $35 (35% of $100). But what if I also retire at 62? My benefit will only be about $75. Does she get 50% of $75, or 35% of $75, or still 35% of $100, or something else?
Thanks.
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