Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    

A couple social security questions

Reply to topic
Money Talk > Retirement Planning

Author Thread
New Member

Cash: $ 0.90

Posts: 4
Joined: 12 Dec 2017
Location: Colorado
A couple social security questions  Reply with quote  

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?

Post Sat Dec 23, 2017 4:41 am
 View user's profile Send private message
Senior Member

Cash: $ 751.85

Posts: 3656
Joined: 21 May 2006
Location: arizona
 Reply with quote  

1. SS clicks monthly. (A couple decades ago their increments were monthly)
2. I don't recall the answer - but I recall seeing it in ssa.gov
I think they post some charts.
Post Sat Dec 23, 2017 4:57 pm
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      

Money Talk © 2003-2018