What happens if I retire at 62, and continue to work part time? My FRA is 67, my spouse is past her FRA but short 2 credits from her own retirement. She cannot get retirement benefits until I retire. Does the reduction in benefits also apply to the spouse benefit for my income over the limit?
I have no ideal what to do. I make this Amount a year 200,000. A year. I am 67. I just fill out all the PAPPER work a couple weeks ago. I hope I didn’t make a mistake filling now. My C. P. A. Told me to go ahead and filled. I did. I have no ideal what I get. And I no this much I payed in a lot. Of money. I hope I dint make a mistake. Please. Give me some ideal what I will half to pay out of the. Social Security check. I am very lost about this. I would love to no something about this. Please. Terri. S. N.C.
Hi and thanks for all your videos. Are you going to do any SS updates or chgs from this video if any. Could you comment on an ex-spouse benefit example such as this. Both parties are over 67. Can an ex-spouse at age 67 take the spousal benefits 50% and wait to take their own benefit until age 70 where they max their own payout. So for 3 years reap a small amt yet max their own. No where does it mention this scenario. Would be great!
Jeff, I have been watching your videos ever since. I will begin collecting social security. I am now 67 an 4 months. I have owned my own successful businesses since I was 24. I’ve been married for 42 years, my wife started collecting SS when she turned 65 last year. Our 4 children are married and all doing well financially. I consider myself a fairly knowledgeable business person with multiple real estate investment properties. We set up trust funds for our grandchildren, we live within our means and own a home and have little debt. Having said all of that, I found navigating social security and Medicare to be a logistical nightmare. Thank you for your guidance and simple explanations to a typical convoluted, irrational government run agency. Like most males I hesitate to seek directions however I found your insight priceless. Than you, Jim
Your groceries, car insurance, property taxes etc. should be cut in half too and women live on average 7 years longer than men don't they? You can have Medicare taken from a checking account if that's any better.
Ha! Wow, does this make me feel better. Didn't work long enough during my life to qualify for Social Security benefits on my own. However, my younger, hard-working spouse will be taking social security when he's 62. I'll be 68 at that time, and that's when I can apply for the Social Security Spousal benefit!
The horrible truth is that most spousals are women, and as usual social security punishes them more harshly then men. Example: A man receives $37,194.80 in yearly S.S benefits. Out of that $1,978.80 is taken out to pay for part B. That is 5.32% of his benefits. A woman's benefit is $18,590.80 minus the exact same part B payments of $1,978 80. . But that comes out to 10.64% of her benefit. TWICE what a man pays. Every woman should be writing their congressperson. This applies to anyone who gets less benefits.
Your delivery is the most understandable. I like how you stay on the particular topic and explain in a clear and concise manner. I was about file for spousal support and realized with your help, that I’m better off waiting til FRA or at least not at age 62 my age come September 2022.🙆🏽♀️
Hi my name is lolita schoch..my husband died last nov.15.2019..he is is us citizen..how can i claim my survivor widow benifit..we been married since 2003..
This is a huge service to watchers. My spouse is older than I and we actually had to go into the SSA office to get questions answered regarding spousal benefits. In our case, she filed at full retirement age and I waited two years past full retirement age. We are filling for her spousal benefits when I file for my benefits.
@@spankynater4242 LOL! Seriously though,, a couple can live more economically than two singles. The hard part is finding the right one - the first time.
New subbie, anyway thanks for answering people's questions. I realize you are very busy, but it makes someone like me want to follow you all the more! It seems that you really care!!
Excellent video, it was the most useful of all of the videos I saw on the topic, even though my personal situation is even more complex than this and I know I will end up needing to get a personal Social Security / Medicare consultant. And pardon my ignorance about youtube... is it possible to subscribe to your SocialSecurity and Medicare videos but not "everything"?
Thank you for your channel. The information you present is clear and to the point. I find it very helpful and will be sharing your videos with my friends.
I just started watching a few months ago. my wife is on disability, has been for years.i didn't know I could fill against her benefits.(no one told us) got ahold of ss and filed. benefit check came last week just before Christmas.
Thank you for answering the question I’ve had for a while & could never find answer to!! Have been divorced 5 years, after being married 31, and wanted to know if I had to wait for him to file. We don’t speak so don’t want to ask him. Question…how can I find out if half of his is more than my full benefit? I doubt it is, but might be. I can’t reach a live person by phone & cannot find the answer on the website. Thanks!!
Interesting. The problem that a friend of mine encountered is she married a man with three children they had two more children. Then he being older an smarter after they had been married for 9 1/2 years he decided to divorce her an marry the nanny. She had just given birth to their last child and had not even gotten home from the hospital. The social security rules should have a clause for this especially since she had not worked.
Hi Mr. Schmidt, I am enjoying your videos about retirement (I am so confused in general). Anyway, my question is at marker 5:18 when you mention a "$250 top up", where does that number come from? I get lost at this point. Does everyone get a $250 top up? And I am assuming no one gets over 50% of the primary's FRA amount if we choose to take that instead of our own amount of working benefits.
GREAT Video... Oh In My Long Text I Forgot To Give Hubby’s Age And The Spouse’s Age... Hubby Will Be 70 In March And Wife Will Be 63 In April. THANK YOU AGAIN FOR YOUR VERY INTERESTING And INFORMATIVE Video!!!!!
Together 30 years, california registered domestic partners for 20 years, partner passed away unexpectedly... I wished we had married, for many reasons including SS... ☮🙏
I have had so many people tell me (including retired family members!) that the 50% spousal benefit had been cancelled. They never filed for it, and took their own much lower benefit based on work history.
Great videos. Subscribed and started watching many of them regarding SS (current interest since I'm turning 63 and want to understand it better). Can you please do a video on survivor benefits? Thanks!!
This video is very informative. I do think filing for spousal benefits on my husband is a wise move. However, I have no idea how to do it. Can you advise? Is there an online form that we can use to file?
wow, this was a lot of good information. If you don't talk to your ex-spouse how do you find out when he files? Do you have to call SS every year? not sure I would have a top-up or not...
@@dresser6135 So even if he never files and is past FRA, we can still collect half based on his earnings at our own FRA, and having been married over 25 years, and divorced over 6 years? What if he never wants to file? (He is spiteful and can afford to not file)
I was wondering in order to get spousal benefits, do you have to file after the primary files to get the top up? For instance my Mother in law filed for hers at 63, father in law filed 2 years later at 67, would she have gotten the top up automatically or does she have to file for it? Thanks for these great videos as we plan our retirement.
Hi Jeff, I keep coming back to your explanation as the clearest and most useful reference! Do I understand correctly that the "spousal benefit %" is "pegged" the day spouse starts collecting? I know that the spousal benefit does not kick in until the Primary Benefit partner starts collecting. However, the caveat (and my question) regarding the spouse collecting earlier than the Primary, is that the spousal benefit % is pegged the date when the spouse stated collecting, even though the benefit may not be triggered until years later when the Primary Benefit partner starts collecting. It seems this can have a big impact if the Primary's benefit far exceeds that of the Spouse's benefit. Thanks so much!!
Hi Jeff, I figured out that I was incorrect: The Spousal Benefit % is pegged at the Age of Entitlement. This is the spouse's age when the spousal benefit becomes available, basically when higher income person starts collecting.
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
Would you please speak on ‘divorcee benefit?’My financial advisor said that when I am divorced for 2 years, I can file for an increased amount (possibly up to $300/mo), & would be paid from my former spouses paid-in monies, (not his monthly SS check). I understand the divorcee benefit is only an option for those born in 1953 or earlier.
I’m sorry if this question has already been addressed. I’m confused about an ex spouse not being able to collect spousal benefits until their ex partner has their self started receiving SS benefits. I was under the impression that as long as the ex partner was at lest 62 and eligible to receive benefits that it didn’t matter if they had started to collect those benefits. So the ex spouse would be able to collect spousal benefits regardless of whether their ex partner had already started receiving benefits.
You are correct. As long as the other qualifications are met...10 yr's for length of marriage, being 62, etc., the ex-spouse can go ahead & collect benefits, even if the ex-spouse has not filed.
Called SS office twice and received the same answer, which doesn't seem to be the same as you are mentioning unless I missed it. SS said that the spouse is ONLY able to claim 1/2 of the benefit of the other spouse IF you are divorced. If the couple is still married, SS said it is not possible for the married spouse to claim 1/2 of their spouses SS. What gives?
If I wait until age 70 to collect and my wife wants half my SS instead of hers when she reaches FRA (67) and I would be 77. Does she get half my earnings for age 70 or the lessor amount at my FRA of 66 years, 8 months?
Simple computation for spousal benefit who never work or contributed to SS, upon FRA of primary earner the spouse will get half the amount of the primary earners SS pension benefits.
HI! I just came across this video and want to clarify when you say that a spouse with no work history should take the spousal benefit at FRA-- Are you saying that the 50% is based on the FRA (age 67+10 mos in my case) even if the Primary waits until age 70? It wasn't fully clear to me in the video. Thank you for the video-- very helpful!
What about if the wife collects a pension from her job but no social security. (government worker married 40 years) Is the wife still entitled to husbands social security?
Okay crazy question. If one was married 17 years, got a divorce and then remarried and has been married to the 2nd spouse for 20 years, which person collects the spousal benefit and does it lower the benefit of the one who is retiring?
Thank you sincerely for all the info you share. Do you have a video related to spousal benefits for a significantly younger spouse who cares for the primary filer's child? I've done some reading on this topic, but would greatly appreciate your more experienced perspective. My spouse and I meet the marriage length requirement and are the biological parents of a child who is under 18 years of age. There is a noticeable age gap between myself and my spouse, where my spouse qualifies to collect social security this year at age 62. What criteria do we need to consider? I also understand that our child qualifies to collect against my spouse until the age of 18. Thank you in advance for tackling this unique topic.
Can you pick which one (your benefit or ex-spouse) OR does SSA automatically give you the higher? I would prefer the lower one and switch to the higher one at age 70? I cannot get through to my local SS office & it's frustrating.
Excellent video. Background--I am the older spouse. Neither of us has reached FRA or filed for benefits. Spouse will receive substantially more than me at FRA. Spouse recently passed away. Possible strategy-I file for MY benefit when I turn 65 (and am eligible for Medicare) and then switch to survivor benefit when I reach my FRA. Question-Is this the best strategy? And how does FRA for survivor benefits differ from FRA? And-is there anything else I should consider? Thank You!
I waited til age 70 and 1/2 to get the highest SSI there is. My wife is 62 and has also worked. She is thinking about filing for her benefits now. I inquired with SSA as to whether the the spousal benefit would bring her monthly benefit to 50 % of mine and was told that does not or can not happen until she is at her full retirement age of 67. This does not sound the same and the way you explained it. Can you tell me what I am missing here or is the SSA agent wrong ?
I am 68 and going to work to 70 and possibly beyond. I’ve been married more than once and currently divorce my first husband Took out retirement at around 60. He is 3 years older than me. Am I qualified to file for spousal benefits or does this not apply for my situation?
my question is if your spouse (who is the top earner and older) retires before 67, does the spouse still get the 50% (minus the deduction if retiring at 62 instead of 67) of what he would have gotten at 67 or what he's getting when he retired? That's where I'm confused. My husband is 4 years older than me. He's decided to retire at 65. I plan on collecting my benefits at 62. I know we both will have reduced benefits, but will mine include his 50% at what he would have gotten at 67 or what he will be getting at 65. Hope my question makes sense.
I would love to sit down and learn how to play this instrument. If anyone knows of who I can reach out for classes please let me know. Much appreciated 🙏
I’m 67. Am I allowed to collect 50% of my ex spouses benefit for the next few years, let my own SS build up to max benefit, then switch back to mine when my benefit is maxed out?
Can you do a video on maximum family benefits with one or more adult disabled children and spousal benefits? Even local SS people don;t seem to fully understand these rules.
I would like to see a more in-depth video on the spouse that’s in the “murky” area. The one with the spouse having a benefit that is less then half of the primary and she picks the rest up later. You made it sound like she can either claim her own benefit or half of her spouse’s, not both…so I’m confused.🤔 In my eg: I’m wanting to receive my benefit in June of 2022 (at 62). Hubby isn’t receiving until 2023 at 65. I’m thinking I can receive mine until he retires and then get the “top off” to equal 50% of what he receives at that point. Correct? Or am I stuck with only my own because I filed before him?
Always a great post. My personal issue. My wife and I joined the Us Navy 30 years ago. She died on active duty in 2014. I retired recently last year at nearly 30 years. I receive my retirement. I have a part time job. Not sure when I will retire and I know that SS depends on when you receive it. So if I retire at 62, 65, 67 (my full retirement). When do I take survivor benefits and then take my own. Possibly based on employment and full retirement age. Thanks.
Seems like a bit of a penalty if a souse that never worked outside the home is able to collect the same or slightly less than a dual income lower earning spouse with a 35 year work history of paying FICA
I suspect that it has to do with the SS contribution since the same thing happens (at lower dollar levels) for the lower earner if he/she was a sole earner. What do others think? .
Thanks for the video, very helpful. Here is a clarifying question: I plan on waiting until my 100% FRA at age 67 to start collecting, my wife who also qualifies for SS under her income, but at 25% less than mine, wants to start collecting her SS at age 64. My question is will her decision to start collecting at age 64 will negatively impact what she will receive at my passing. I want her to switch from her SS to my at 100%, does she need to wait until she is also 67 of age for that the 100% survival benefit? Thanks in advance for tackling my question.
I got a question for you ... lets see if you can answer it. My Wife is on SSDI and get 1400 a month and is 61 years old this year. I read that when she hits her full retirement age 66 and 8 months her SSDI turns into regular SS. If so does than mean she can get it changed to half of what I would get ? I would be over 70 ( the age that I plan on talking SS ) so I would already be collecting SS before she hits her FRA. As of right now mine at 70 will be 3600 so half for her would be 1800 which would be half mine. My question is ... would she get that OR half of what I would have got at my FRA of 66 ?
Do these rules also apply if my spouse is older of retirement age but I am still on SSDI until I turn retirement age in 8 years? In other words, will she still be able to collect at those same percentages and will it affect the amount of SSDI benefits I receive? Or is it better for the spouse to wait for my SSDI to convert to retirement at my age of 67?
I am in Missouri and I have been a full time mother and have not worked I worked for 10 tears before marriage however social security says I do not qualify for social security benefits so I will be riding me husbands social s benefits we are both 68 and have not filed yet are we in danger? or too late?
I've been doing research on this and can't seem to find the answer to this question. If the spouse claims the spousal benefit prior to full retirement age, is it subject to the "clawback" provisions if the spouse makes more than the minimum income amount?
I started collecting at 62. My husband is waiting until 70. I turn 67 soon.He is same age and still working.Can he apply and delay? (so I can collect 1/2?)
Thank you for a interesting information. But what if ex wife are getting a spouse social security benefits. Can a next wife be eligible for a spouse social security benefits?
I'm trying to find an answer to my question. If a retirement age 62+ person wants to draw from their spouses SSDI benefits, will it lower the amount of SSDI benefits the disabled person receives once the 62+ spouse begins to draw social security from the SSDI spouses benefits? Thank you in advance for any information provided.
I really do appreciate your videos. We need your help...My wife is disabled. Can she also claim spousal benefits from me when I retire? If so how do we calculate it? Any information you can share is appreciated. Thank you.
MR Schmidt. I have a question. I'm 64 and my wife is 62 'she is a higher earner" and we are planning on waiting to apply at full retirement age. Will my wife able to apply for spousal benefits for the two years in the mean time that she applies for her self?
My wife currently is receiving benefits as she retired at age 65 two years ago. I am unemployed at 63. Can I claim spousal benefits and then claim full social security benefits at 67? We both were tech worker and received the maximum benefits (or close to it)
Hi. Are you available for private consultations? I'm 64, semi-retired and looking into early SS. My wife is 63 and still wants to work full time until age 67. Thanks.
Hey Mr.Schimdt is it possible to get spousal benefits of only a 7 year marriage if both of us get Social Security Disability benefits and are in our 40s?
Quick question: my wife qualifies to file for full benefit very soon (67). I will have a pension from a private company and 30 quarters of work credits. Will I be able to claim spousal benefit?
I'm 60 and my husband is 56. I plan to file retirement at 62. looking at your charts, my husband is not able to claim spousal benefits until he turns 62? basically, we both have to be at least 62? thanks.
Very helpful video! Question-- If my spouse, who was in the military our entire marriage of 25 years, and we are now divorced ( he is 3 1/2 years younger-) can I apply for benefits at 64 prior to him applying? I do have some benefits but he, of course has more. How do I determine what I am entitled to?
My wife and I are retired and she has been on social security benefits for a few months before we knew of spousal benefits. I have been receiving benefits for 6 years. Her current benefit is much less than 50% of my benefit so we tried to go online and apply but were rejected. Do you have to apply for this before you receive benefits?
I am 10 years younger than spouse. what if I collect early retirement and he also collects early retirement afterwards passing away. what would be the % I would receive from the survivor benefits as he makes 3x as much.
Check Out: *7 Reasons to Take Social Security at Age 62* -> ruclips.net/video/eOJnzLuyvIY/видео.html
Just curious, do you ever do videos with the spouse on disability? How does that work or does it change anything?
I watched that video, and it is giving me food for thought. I highly recommend that (as well as your other videos).
What happens if I retire at 62, and continue to work part time? My FRA is 67, my spouse is past her FRA but short 2 credits from her own retirement. She cannot get retirement benefits until I retire. Does the reduction in benefits also apply to the spouse benefit for my income over the limit?
I have no ideal what to do. I make this Amount a year 200,000. A year. I am 67. I just fill out all the PAPPER work a couple weeks ago. I hope I didn’t make a mistake filling now. My C. P. A. Told me to go ahead and filled. I did. I have no ideal what I get. And I no this much I payed in a lot. Of money. I hope I dint make a mistake. Please. Give me some ideal what I will half to pay out of the. Social Security check. I am very lost about this. I would love to no something about this. Please. Terri. S. N.C.
Hi and thanks for all your videos. Are you going to do any SS updates or chgs from this video if any. Could you comment on an ex-spouse benefit example such as this.
Both parties are over 67. Can an ex-spouse at age 67 take the spousal benefits 50% and wait to take their own benefit until age 70 where they max their own payout. So for 3 years reap a small amt yet max their own. No where does it mention this scenario. Would be great!
Jeff, I have been watching your videos ever since. I will begin collecting social security. I am now 67 an 4 months. I have owned my own successful businesses since I was 24.
I’ve been married for 42 years, my wife started collecting SS when she turned 65 last year. Our 4 children are married and all doing well financially. I consider myself a fairly knowledgeable business person with multiple real estate investment properties. We set up trust funds for our grandchildren, we live within our means and own a home and have little debt. Having said all of that, I found navigating social security and Medicare to be a logistical nightmare.
Thank you for your guidance and simple explanations to a typical convoluted, irrational government run agency. Like most males I hesitate to seek directions however I found your insight priceless. Than you, Jim
Your groceries, car insurance, property taxes etc. should be cut in half too and women live on average 7 years longer than men don't they? You can have Medicare taken from a checking account if that's any better.
Ha! Wow, does this make me feel better. Didn't work long enough during my life to qualify for Social Security benefits on my own. However, my younger, hard-working spouse will be taking social security when he's 62. I'll be 68 at that time, and that's when I can apply for the Social Security Spousal benefit!
The horrible truth is that most spousals are women, and as usual social security punishes them more harshly then men. Example: A man receives $37,194.80 in yearly S.S benefits. Out of that $1,978.80 is taken out to pay for part B. That is 5.32% of his benefits. A woman's benefit is $18,590.80 minus the exact same part B payments of $1,978 80. . But that comes out to 10.64% of her benefit. TWICE what a man pays. Every woman should be writing their congressperson. This applies to anyone who gets less benefits.
Your delivery is the most understandable. I like how you stay on the particular topic and explain in a clear and concise manner. I was about file for spousal support and realized with your help, that I’m better off waiting til FRA or at least not at age 62 my age come September 2022.🙆🏽♀️
Hi my name is lolita schoch..my husband died last nov.15.2019..he is is us citizen..how can i claim my survivor widow benifit..we been married since 2003..
Great stuff - I'm training to be a financial planner and appreciate the detailed examples
This is a huge service to watchers. My spouse is older than I and we actually had to go into the SSA office to get questions answered regarding spousal benefits. In our case, she filed at full retirement age and I waited two years past full retirement age. We are filling for her spousal benefits when I file for my benefits.
I'm not the only one who is confused here.
You provided some really valuable information in this video. Thank you! There are so many scenarios, spousal benefits can be confusing.
Just don’t get married, problem solved.
@@spankynater4242 LOL! Seriously though,, a couple can live more economically than two singles. The hard part is finding the right one - the first time.
New subbie, anyway thanks for answering people's questions. I realize you are very busy, but it makes someone like me want to follow you all the more! It seems that you really care!!
Thanks for the kind words (and subscribing)! I'll post another video at 12:00PM ET today. The twice a week.
I would like you to expand on rules of ex-spouse benefits and filing, please. Neither old enough to get full benefits.
Excellent video, it was the most useful of all of the videos I saw on the topic, even though my personal situation is even more complex than this and I know I will end up needing to get a personal Social Security / Medicare consultant.
And pardon my ignorance about youtube... is it possible to subscribe to your SocialSecurity and Medicare videos but not "everything"?
This is the best video on this topic I’ve seen. Thanks a lot for clearing up some questions I had.
What would be beneficial is to have a calculator where you could plug in different scenarios
Thank you for your channel. The information you present is clear and to the point. I find it very helpful and will be sharing your videos with my friends.
+Vi B. Thanks for the positive feedback
This was a little trickier to follow but I did pick up some new info. Thanks!
Your explanations are well presented. Thank You!
My pleasure
Yes...it always depends ! The rules are crazy.
Wow this answered all my questions (unless the SS changed rules recently)! You earned like from me!
Amazing overview covering all scenarios.
I just started watching a few months ago. my wife is on disability, has been for years.i didn't know I could fill against her benefits.(no one told us) got ahold of ss and filed. benefit check came last week just before Christmas.
Really?
This video helped out so much when deciding moms retirement benefits.
That video was the Schmidt! I can tell you really give a Schmidt!
First time listening! Thanks information!
You bet
Liked and subbed, got on the Schmidtlist. Thanks, I need to watch this again.
Great information. Something to ponder ... Thank you!
My pleasure
my husband is on SS disability since 2017. i’m 62, can i apply for SS thru my husband’s social security benefits?
Thank you. I have been reading about benefits. You are easy to understand
Geoff, the information was great. But all of the edits where the zoom level keeps changes make the video VERY difficult to watch.
Thank you for answering the question I’ve had for a while & could never find answer to!!
Have been divorced 5 years, after being married 31, and wanted to know if I had to wait for him to file. We don’t speak so don’t want to ask him.
Question…how can I find out if half of his is more than my full benefit? I doubt it is, but might be. I can’t reach a live person by phone & cannot find the answer on the website.
Thanks!!
Interesting. The problem that a friend of mine encountered is she married a man with three children they had two more children. Then he being older an smarter after they had been married for 9 1/2 years he decided to divorce her an marry the nanny. She had just given birth to their last child and had not even gotten home from the hospital. The social security rules should have a clause for this especially since she had not worked.
Hi Mr. Schmidt, I am enjoying your videos about retirement (I am so confused in general). Anyway, my question is at marker 5:18 when you mention a "$250 top up", where does that number come from? I get lost at this point. Does everyone get a $250 top up? And I am assuming no one gets over 50% of the primary's FRA amount if we choose to take that instead of our own amount of working benefits.
GREAT Video... Oh In My Long Text I Forgot To Give Hubby’s Age And The Spouse’s Age... Hubby Will Be 70 In March And Wife Will Be 63 In April. THANK YOU AGAIN FOR YOUR VERY INTERESTING And INFORMATIVE Video!!!!!
Together 30 years, california registered domestic partners for 20 years, partner passed away unexpectedly...
I wished we had married, for many reasons including SS...
☮🙏
I have had so many people tell me (including retired family members!) that the 50% spousal benefit had been cancelled. They never filed for it, and took their own much lower benefit based on work history.
Great videos. Subscribed and started watching many of them regarding SS (current interest since I'm turning 63 and want to understand it better). Can you please do a video on survivor benefits? Thanks!!
I’d like a ‘survivor’ benefits video also. My husband and I are both 63-yrs-old and I’m certain I’ll outlive my husband.
Thanks for your easy to understand vidios!
Another great educational information video. MR Schmidt is on vacation.
This video is very informative. I do think filing for spousal benefits on my husband is a wise move. However, I have no idea how to do it. Can you advise? Is there an online form that we can use to file?
GREAT ADVICE AS ALWAYS.THANKS SO MUCH.JIM H.
wow, this was a lot of good information. If you don't talk to your ex-spouse how do you find out when he files? Do you have to call SS every year? not sure I would have a top-up or not...
Yes I have the same question!!
It doesn't matter when he files, or if he files. SS computes your amt., if you qualify, based on his FRA.
@@dresser6135 So even if he never files and is past FRA, we can still collect half based on his earnings at our own FRA, and having been married over 25 years, and divorced over 6 years? What if he never wants to file? (He is spiteful and can afford to not file)
Is there a good calculator or decision tree available for this topic ?
Thank You! Finally I understand it!
Can you comment on the Windfall Elimination Provision?
We are both 61.
I was wondering in order to get spousal benefits, do you have to file after the primary files to get the top up? For instance my Mother in law filed for hers at 63, father in law filed 2 years later at 67, would she have gotten the top up automatically or does she have to file for it? Thanks for these great videos as we plan our retirement.
She has to contact social security and tell them she wants spousal benefits.
Hi Jeff, I keep coming back to your explanation as the clearest and most useful reference! Do I understand correctly that the "spousal benefit %" is "pegged" the day spouse starts collecting? I know that the spousal benefit does not kick in until the Primary Benefit partner starts collecting. However, the caveat (and my question) regarding the spouse collecting earlier than the Primary, is that the spousal benefit % is pegged the date when the spouse stated collecting, even though the benefit may not be triggered until years later when the Primary Benefit partner starts collecting. It seems this can have a big impact if the Primary's benefit far exceeds that of the Spouse's benefit. Thanks so much!!
Hi Jeff, I figured out that I was incorrect: The Spousal Benefit % is pegged at the Age of Entitlement. This is the spouse's age when the spousal benefit becomes available, basically when higher income person starts collecting.
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
Would you please speak on ‘divorcee benefit?’My financial advisor said that when I am divorced for 2 years, I can file for an increased amount (possibly up to $300/mo), & would be paid from my former spouses paid-in monies, (not his monthly SS check). I understand the divorcee benefit is only an option for those born in 1953 or earlier.
I’m sorry if this question has already been addressed. I’m confused about an ex spouse not being able to collect spousal benefits until their ex partner has their self started receiving SS benefits. I was under the impression that as long as the ex partner was at lest 62 and eligible to receive benefits that it didn’t matter if they had started to collect those benefits. So the ex spouse would be able to collect spousal benefits regardless of whether their ex partner had already started receiving benefits.
You are correct. As long as the other qualifications are met...10 yr's for length of marriage, being 62, etc., the ex-spouse can go ahead & collect benefits, even if the ex-spouse has not filed.
Makes good sense.
Called SS office twice and received the same answer, which doesn't seem to be the same as you are mentioning unless I missed it. SS said that the spouse is ONLY able to claim 1/2 of the benefit of the other spouse IF you are divorced. If the couple is still married, SS said it is not possible for the married spouse to claim 1/2 of their spouses SS. What gives?
If I wait until age 70 to collect and my wife wants half my SS instead of hers when she reaches FRA (67) and I would be 77. Does she get half my earnings for age 70 or the lessor amount at my FRA of 66 years, 8 months?
Simple computation for spousal benefit who never work or contributed to SS, upon FRA of primary earner the spouse will get half the amount of the primary earners SS pension benefits.
Great video, but I have a question: Does spousal benefit come out from the primary person on disability?
HI! I just came across this video and want to clarify when you say that a spouse with no work history should take the spousal benefit at FRA-- Are you saying that the 50% is based on the FRA (age 67+10 mos in my case) even if the Primary waits until age 70? It wasn't fully clear to me in the video. Thank you for the video-- very helpful!
What about if the wife collects a pension from her job but no social security. (government worker married 40 years) Is the wife still entitled to husbands social security?
Okay crazy question. If one was married 17 years, got a divorce and then remarried and has been married to the 2nd spouse for 20 years, which person collects the spousal benefit and does it lower the benefit of the one who is retiring?
Thank you sincerely for all the info you share. Do you have a video related to spousal benefits for a significantly younger spouse who cares for the primary filer's child? I've done some reading on this topic, but would greatly appreciate your more experienced perspective. My spouse and I meet the marriage length requirement and are the biological parents of a child who is under 18 years of age. There is a noticeable age gap between myself and my spouse, where my spouse qualifies to collect social security this year at age 62. What criteria do we need to consider? I also understand that our child qualifies to collect against my spouse until the age of 18. Thank you in advance for tackling this unique topic.
Can you pick which one (your benefit or ex-spouse) OR does SSA automatically give you the higher? I would prefer the lower one and switch to the higher one at age 70? I cannot get through to my local SS office & it's frustrating.
if my wife is on federal retirement plan is she still entitled to SS spousal benefits?
Excellent video. Background--I am the older spouse. Neither of us has reached FRA or filed for benefits. Spouse will receive substantially more than me at FRA. Spouse recently passed away. Possible strategy-I file for MY benefit when I turn 65 (and am eligible for Medicare) and then switch to survivor benefit when I reach my FRA. Question-Is this the best strategy? And how does FRA for survivor benefits differ from FRA? And-is there anything else I should consider? Thank You!
Thank you for your videos!
What if your spouse has passed away are you entitled to any of that even if you’re working?
I waited til age 70 and 1/2 to get the highest SSI there is. My wife is 62 and has also worked. She is thinking about filing for her benefits now. I inquired with SSA as to whether the the spousal benefit would bring her monthly benefit to 50 % of mine and was told that does not or can not happen until she is at her full retirement age of 67. This does not sound the same and the way you explained it. Can you tell me what I am missing here or is the SSA agent wrong ?
I am 68 and going to work to 70 and possibly beyond. I’ve been married more than once and currently divorce my first husband Took out retirement at around 60. He is 3 years older than me. Am I qualified to file for spousal benefits or does this not apply for my situation?
What if she files at 62 and I at 65? Does she take hers till I file and then refile for the spousal?
Oh, and put on a nice tie, at the least!
my question is if your spouse (who is the top earner and older) retires before 67, does the spouse still get the 50% (minus the deduction if retiring at 62 instead of 67) of what he would have gotten at 67 or what he's getting when he retired? That's where I'm confused. My husband is 4 years older than me. He's decided to retire at 65. I plan on collecting my benefits at 62. I know we both will have reduced benefits, but will mine include his 50% at what he would have gotten at 67 or what he will be getting at 65. Hope my question makes sense.
Good info...thank you.
Clear as Mud!
I would love to sit down and learn how to play this instrument. If anyone knows of who I can reach out for classes please let me know. Much appreciated 🙏
I’m 67. Am I allowed to collect 50% of my ex spouses benefit for the next few years, let my own SS build up to max benefit, then switch back to mine when my benefit is maxed out?
Can you do a video on maximum family benefits with one or more adult disabled children and spousal benefits? Even local SS people don;t seem to fully understand these rules.
I know, I have the same situation and I can't find the answer
I would like to see a more in-depth video on the spouse that’s in the “murky” area. The one with the spouse having a benefit that is less then half of the primary and she picks the rest up later. You made it sound like she can either claim her own benefit or half of her spouse’s, not both…so I’m confused.🤔
In my eg: I’m wanting to receive my benefit in June of 2022 (at 62). Hubby isn’t receiving until 2023 at 65. I’m thinking I can receive mine until he retires and then get the “top off” to equal 50% of what he receives at that point. Correct? Or am I stuck with only my own because I filed before him?
Thank you.
Always a great post.
My personal issue.
My wife and I joined the Us Navy 30 years ago.
She died on active duty in 2014.
I retired recently last year at nearly 30 years.
I receive my retirement.
I have a part time job.
Not sure when I will retire and I know that SS depends on when you receive it.
So if I retire at 62, 65, 67 (my full retirement).
When do I take survivor benefits and then take my own.
Possibly based on employment and full retirement age.
Thanks.
Seems like a bit of a penalty if a souse that never worked outside the home is able to collect the same or slightly less than a dual income lower earning spouse with a 35 year work history of paying FICA
I suspect that it has to do with the SS contribution since the same thing happens (at lower dollar levels)
for the lower earner if he/she was a sole earner. What do others think? .
Thanks for the video, very helpful. Here is a clarifying question: I plan on waiting until my 100% FRA at age 67 to start collecting, my wife who also qualifies for SS under her income, but at 25% less than mine, wants to start collecting her SS at age 64. My question is will her decision to start collecting at age 64 will negatively impact what she will receive at my passing. I want her to switch from her SS to my at 100%, does she need to wait until she is also 67 of age for that the 100% survival benefit? Thanks in advance for tackling my question.
good question!
I got a question for you ... lets see if you can answer it. My Wife is on SSDI and get 1400 a month and is 61 years old this year. I read that when she hits her full retirement age 66 and 8 months her SSDI turns into regular SS. If so does than mean she can get it changed to half of what I would get ? I would be over 70 ( the age that I plan on talking SS ) so I would already be collecting SS before she hits her FRA. As of right now mine at 70 will be 3600 so half for her would be 1800 which would be half mine. My question is ... would she get that OR half of what I would have got at my FRA of 66 ?
Do these rules also apply if my spouse is older of retirement age but I am still on SSDI until I turn retirement age in 8 years? In other words, will she still be able to collect at those same percentages and will it affect the amount of SSDI benefits I receive? Or is it better for the spouse to wait for my SSDI to convert to retirement at my age of 67?
Thank you
You bet
Every one asks some really good questions however I have noticed they don't answer questions here . SO SAD...
I am in Missouri and I have been a full time mother and have not worked I worked for 10 tears before marriage however social security says I do not qualify for social security benefits so I will be riding me husbands social s benefits we are both 68 and have not filed yet are we in danger? or too late?
I've been doing research on this and can't seem to find the answer to this question. If the spouse claims the spousal benefit prior to full retirement age, is it subject to the "clawback" provisions if the spouse makes more than the minimum income amount?
I started collecting at 62. My husband is waiting until 70. I turn 67 soon.He is same age and still working.Can he apply and delay? (so I can collect 1/2?)
Thank you for a interesting information. But what if ex wife are getting a spouse social security benefits. Can a next wife be eligible for a spouse social security benefits?
Very helpful, thanks. Question: are the rules any different if the primary spouse is collecting SSDI?
I'm trying to find an answer to my question. If a retirement age 62+ person wants to draw from their spouses SSDI benefits, will it lower the amount of SSDI benefits the disabled person receives once the 62+ spouse begins to draw social security from the SSDI spouses benefits?
Thank you in advance for any information provided.
I really do appreciate your videos. We need your help...My wife is disabled. Can she also claim spousal benefits from me when I retire? If so how do we calculate it? Any information you can share is appreciated. Thank you.
Thanks for the question John. Check out my video on spousal benefit. This should help you with this question: ruclips.net/video/NKgShrGY1G4/видео.html
Great information.. Can my spouse file for spousal benefits if I am still working and have not filed yet
He mentioned that in very beginning. No one cannot top his/her own benefit with the spousal benefit when the spouse has not filed for benefit yet
But does the primary filer’s benefit reduce, or does the ex spouse get their own payment
4:36 Shouldn't the Primary Benefit Package calculation "100% x $1000 = $1000" actually be "100% x $2500 = $2500"?
Thanks.
MR Schmidt. I have a question. I'm 64 and my wife is 62 'she is a higher earner" and we are planning on waiting to apply at full retirement age. Will my wife able to apply for spousal benefits for the two years in the mean time that she applies for her self?
My wife currently is receiving benefits as she retired at age 65 two years ago. I am unemployed at 63. Can I claim spousal benefits and then claim full social security benefits at 67? We both were tech worker and received the maximum benefits (or close to it)
Hi. Are you available for private consultations? I'm 64, semi-retired and looking into early SS. My wife is 63 and still wants to work full time until age 67. Thanks.
Hey Mr.Schimdt is it possible to get spousal benefits of only a 7 year marriage if both of us get Social Security Disability benefits and are in our 40s?
Quick question: my wife qualifies to file for full benefit very soon (67). I will have a pension from a private company and 30 quarters of work credits. Will I be able to claim spousal benefit?
I'm 60 and my husband is 56. I plan to file retirement at 62. looking at your charts, my husband is not able to claim spousal benefits until he turns 62? basically, we both have to be at least 62? thanks.
Very helpful video! Question-- If my spouse, who was in the military our entire marriage of 25 years, and we are now divorced ( he is 3 1/2 years younger-) can I apply for benefits at 64 prior to him applying? I do have some benefits but he, of course has more. How do I determine what I am entitled to?
My wife and I are retired and she has been on social security benefits for a few months before we knew of spousal benefits. I have been receiving benefits for 6 years. Her current benefit is much less than 50% of my benefit so we tried to go online and apply but were rejected. Do you have to apply for this before you receive benefits?
I am 10 years younger than spouse. what if I collect early retirement and he also collects early retirement afterwards passing away. what would be the % I would receive from the survivor benefits as he makes 3x as much.
THANK YOU