What Are the Most Common Retirement Questions You Receive about Social Security?
Reading Time: 2 MinutesLast Updated: April 6, 2017
There are two big questions I hear plenty.
- My husband wants to retire at 62 and start taking Social Security. Is that okay?
This typically comes up because husbands are often a few years older than their wives, and figure they want to “get their money’s worth” by taking Social Security as early as possible. I think that can be a bad move. Unless you have oodles of money to live on in retirement, you — as a couple — want to maximize your Social Security payout for the longest surviving spouse. It’s important to understand that when one spouse dies, the other spouse is entitled to just one Social Security payment. So you want the surviving spouse to have the biggest possible benefit. Here’s how: Whichever spouse is the higher earner (and thus eligible for a bigger Social Security benefit) should delay taking Social Security at least until their Full Retirement Age (FRA), which is between age 66 and 67, depending on the year you were born.
Your FRA benefit is 25 to 30 percent higher than the benefit you can get at age 62. Even better is to have the high earner wait all the way until age 70. The benefit if you start then is more than 65 percent higher than the benefit you are entitled to at age 62. While the high-earner should wait as long as possible, the other spouse can start earlier, but I always encourage both spouses to delay as long as possible.
- I am getting divorced and haven’t worked full time. Am I going to be able to get Social Security?
If you were married at least 10 years you will be eligible for Social Security based on your ex-spouse’s earnings record. Your receiving a benefit will have no impact on the benefit your ex is eligible for.
There are a few caveats to understand about how this works. Most important, you can’t make a claim on an ex-spouse’s record if you remarry. (It doesn’t matter if your ex remarried.) You also need to be at least 62 years old. You can learn more about that here.
SSA does not endorse any particular financial advisory product or service.
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Tags: full retirement age, retirement benefits, Social Security benefits
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Suze Orman, Personal Finance Expert
Suze Orman is an award-winning personal finance expert.
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Mary N.
I have been collecting social security on my own work record….can I change and collect from my husband’s.
He is still living.
A.C.
Hi, Mary. If you are eligible for retirement benefits on your own record, we pay that amount first. If the benefit on your spouse’s record is higher, you will get an additional amount on that record so that the combination of benefits equals that higher amount. Find more information at our Retirement Planner: Benefits for Your Spouse. For additional assistance, contact us at 1-800-772-1213, Monday through Friday between 7 a.m. and 7 p.m. and ask a representative to assist you. Generally, you’ll have a shorter wait time if you call later in the day. You can also contact your local office. We hope this helps.
Patricia T.
if im receiving SS now at age 63 and want to return to work part time how many hours can i work and still receive SS/
V.V.
Hi Patricia. Thank you for your question. The amount you’re allowed to earn while receiving benefits depends on your age. If you’re under full retirement age for the entire year, then we deduct $1 from benefit payments for every $2 earned above the annual limit. For 2019, that limit is $17,640.
Visit our Retirement Planner: Getting Benefits While Working and our Retirement Earnings Test Calculator. Hope this helps!
Mary L.
Good morning
I’m still working 45000 for the next 4 years
I heard I could begin taking my social security, yet at a smaller amount.
I would like to and add to my 401k. Looking at the rate of return I could do better than Social Security rates of return
any information on this would be grateful
thank you
Mary Lou
V.V.
Hi Mary. Thank you for your question. The amount you’re allowed to earn while receiving benefits depends on your age. If you attain full retirement age (66) in 2019, the earnings limit is $46,920 but we only count earnings before the month you reach full retirement age. Beginning with the month you reach full retirement age, earnings no longer reduce your benefits, no matter how much you earn. If you’re under full retirement age for the entire year, then we deduct $1 from benefit payments for every $2 earned above the annual limit. For 2019, that limit is $17,640.
Visit our Retirement Planner: Getting Benefits While Working and our Retirement Earnings Test Calculator. Hope this helps!
Elizabeth S.
Will I still get social security checks in my checking account – direct deposit each through the goverment shutdown?
V.V.
Hi Elizabeth: Social Security is not affected by the government shut down. All payments will be made on schedule.
randy t.
im 59 years old got cancer recive 2270.00 ss how much money can my wife make at here job
V.V.
Thank you for using our blog to ask your question, Randy. Your spouse’s income will not affect your Social Security disability benefit. If your spouse is receiving benefits, then her income could affect her benefits. Read our brochure What You Need to Know When You Get Social Security Disability Benefits for details on what you must report to us.
Randy
I turned 62 a the end of april this year. I have continued to work and make over the yearly limit of 17000. I was not paid my ssi for the first four months because of the penalty.
First question: Is my whole year’s salary used to determine the penalty or does it start the month I turned 62? Because it appears I have been charged the penalty for the full 12 months. Why am I being penalized for the four months I wasn’t even 62 yet?? I am barely over the limit if the first 4 months is not counted.
Priscilla W.
Wat happened to my husbands ira money when he passed away
Michelle
If I am on SSI disability and I am under the age of 75 .when my husband dies can I collect his SSI benefits?
K.O.
Hi Michelle, thank you for your question. Your survivor benefit amount is based on your deceased spouse’s earnings. The more he paid into Social Security, the higher your widow’s benefit will be. If he was receiving reduced benefits when he passed away, the survivors benefit will be based on that amount.
Widows benefit are payable as early as age 60 (for a reduced benefit) or a full widows benefit at full retirement age or older.
Use our Survivors Planner for more information on survivor benefits. Hope this helps.
cynthia b.
I am retired an receiving social security, my husband is planning on retiring in 3 yrs. do we both get social security checks?
CIndy C.
My birthday is 27 April 1948 and my monthly payments are supposed to be automatically deposited the Wednesday after the 27th of the month. I understand that but some months it is the Wednesday before due to the length of the month.
I am wondering if there is a list of payment dates for
payments every month?
A.C.
Hi, Cindy. To find a schedule of Social Security benefit payments, click here. Thanks.