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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Blane F.
when do i apply for full retirement if born december 27 1952
Joan d.
What do I need to receive social benefits from a former spouse? We were married more than 10years and have been divorced for 4 years.
Angelon B.
My husband will be 62 on Dec 28, how will our social security benefits be affected?
Will one of us lose benefits?
I could not find the answer.
Barbara A.
I’ve paid in the PERS retirement will this reduce the about of SS I can draw a month as I it’s a Mississippi State Retirement program?
Larry B.
Dear Ms. Orman: I am retiring next month at age 65. I would like to work part time. What is the annual allowable maximum gross income I can earn? Thank you for your reply.
Larry B.
Larry Baldoni on March 13, 2018 at 9:51 am said:
Dear Ms. Orman: I am retiring next month at age 64, sorry. I would like to work part time. What is the annual allowable maximum gross income I can earn? Thank you for your reply.
R.F.
Hello Larry, you can work while you receive Social Security retirement benefits. When you are under full retirement age, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2018, that limit is $17,040.
If your earnings will be over the limit for the year but you will be retired for part of the year, we have a special rule that applies to earnings for one year. See “Getting Benefits While Working” for more important information. Thanks!
Bob
If my wife stars collecting at 62, can she collect on my s.s. When I turn 65 or 70
Patricia
My husband paid into ss for his 40 quarters. He got a job working for the City 25 years and no longer paid into ss. His pension will be approximately $4,000 a month. His current ss amount is $1,300. If i am understanding the 3/4 rule correctly, does this mean he will not receive any ss payment when he retires since 3/4 if his pension is higher then his ss?
Rex
CanI switch from disability to retirement at age 63?
R.F.
Thanks for your question Rex. Remember that your disability payments are established at the highest rate possible, and that while you may be eligible to switch from disability to retirement benefits at age 63 your benefits will be reduced. This is because we apply reduction factors to retirement benefits if you start receiving them prior to your full retirement age.
When you reach full retirement age, we will automatically convert your disability benefits to retirement benefits, but the amount remains the same.
If you have specific questions about your case, please call our toll free number at 1-800-772-1213, Monday through Friday between 7 a.m. and 7 p.m. and speak to one of our representatives.
Shelia M.
The question that I have about drawing off my husbands SS while I’m getting my disability is because we are still married, but haven’t lived together since 2007!! He has a really good job and makes really good money, but could care less about me. Unless you really know what it’s like to try and live off of SSDI or SSI it’s the hardest thing to do because it’s impossible to make ends meet! But I need to know if it would benefit me to draw his SS to supplement my income because it’s almost impossible for me to go back to work, even though I’m looking into it!!
Shelia M.
I have a question. I’m on disability and have been for about 10 years now! My husband put me out when I became disabled because I was no longer able to work and help provide for our home! The question that I have is, can I draw from his SS while getting my disability because I don’t get enough to live off of and we’re still married!
R.F.
Hello Shelia! You may be eligible to receive benefits on your husband’s record if he is receiving retirement or disability benefits. See our Retirement Planner: Benefits For You As A Spouse for more information. Thanks.