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They will take 35 years, always. 40 quarters of eligible income is required to qualify. If she only works 20 years, then she gets 15 years of zeros. Whatever her adjusted total earned income is, they divide that amount by 420 to determine a monthly average income. The current adjusted maximum monthly average income is around $9500/m. Once married for 10 years, it is often makes no difference to the SAHM/D SS wise if their spouse was a high earner. They are eligble for an adjusted 50% of the living spouses SS. My ex will have a higher SS than she earned using 50% of mine. Of course, she had to work and pay in to stay alive, but since she would never make enough to eclipse half of mine, it made no difference. If she has any brains she would work and not file until her FRA.
They will take 35 years, always. 40 quarters of eligible income is required to qualify. If she only works 20 years, then she gets 15 years of zeros. Whatever her adjusted total earned income is, they divide that amount by 420 to determine a monthly average income. The current adjusted maximum monthly average income is around $9500/m. Once married for 10 years, it is often makes no difference to the SAHM/D SS wise if their spouse was a high earner. They are eligble for an adjusted 50% of the living spouses SS. My ex will have a higher SS than she earned using 50% of mine. Of course, she had to work and pay in to stay alive, but since she would never make enough to eclipse half of mine, it made no difference. If she has any brains she would work and not file until her FRA.
She won't get 50% of yours unless she DOES wait till FRA.
I retired April 1, 2013 to avoid what appeared to be a certain RIF.
I had no income tor 1-1/2 months.
I then got a job that paid only 60%-70% of my previous income.
After 4-1/2 months in that position I got a different job which paid 90+% of my previous income.
The SSA Worksheet #05-10070 will guide you through the calculations for a very close estimate of your actual SS Benefit. The income for each year is multiplied by an Index Factor that increases inversely with time (the early years are multiplied by a larger number than the recent years).
My 2013 income was considerably less than other recent years due to the reasons at the top of this post. Because of the inverse Index Factor, my $31K of income back in 1982 is actually worth more than my $88K of income in 2013 for determining SS Benefits! Year 1982 is included in my 35 years of highest income whereas Year 2013 is not.
I received a Statement from the SSA this year which details my entire income history. Maybe it will come every year now that I am over 60, or maybe it came this year because I will turn 62 in about 3 months.
Edit: I found the answer.
How often do you receive a Social Security Statement?
A: You'll receive a statement once every five years from age 25 to 60, then annually until you start receiving benefits. The statements are mailed three months before your birthday. But you can get a benefit estimate anytime with a My Social Security account (www.ssa.gov/myaccount). (Jan 6, 2017)
Yeah, I can't get my statement online. Apparently long ago I tried to log in too many times with the wrong password and the only way to re-set it is to go in person to a SS office. I tried, and even called, but no go. Have to take time off from work to go in person...
Soon you will not be troubled by the need to go in to work. Deal with it then. Generally speaking, wait as long as possible.
Every month you put off collecting adds to your benefit. You should put it off as long as possible, until 70 max.
Uhm....I don't know if you got the memo, but things have drastically changed. A whole economic shift is occurring and many will see their savings, incomes, SS, ability to retrieve money from ATMs etc,. vanish or become EXTREMELY difficult to retrieve. Any person who is eligible to get SS should take it...NOW! States are broke and some can hardly pay SS if at all, people are broke and losing jobs, 1000s of stores are closing, etc...The dollar is losing its reserve currency status and the PetroYuan was introduced this week. You know what that means? The free ride is over and all those unused dollars will return back to US shores and it's going to be a disaster. Paying $10 for a loaf of bread is no fun....! A person "should not wait" for money that is basically entitled to them in these changing times....GET IT WHILE YOU CAN....!
Uhm....I don't know if you got the memo, but things have drastically changed. A whole economic shift is occurring and many will see their savings, incomes, SS, ability to retrieve money from ATMs etc,. vanish or become EXTREMELY difficult to retrieve. Any person who is eligible to get SS should take it...NOW! States are broke and some can hardly pay SS if at all, people are broke and losing jobs, 1000s of stores are closing, etc...The dollar is losing its reserve currency status and the PetroYuan was introduced this week. You know what that means? The free ride is over and all those unused dollars will return back to US shores and it's going to be a disaster. Paying $10 for a loaf of bread is no fun....! A person "should not wait" for money that is basically entitled to them in these changing times....GET IT WHILE YOU CAN....!
SS does not come from states. It's a Federal program. Not sure if you noticed by your post but this is not 1929 and we currently are not in the Great Depression.
No one knows what the future holds but your doom and gloom scenario is very amusing. Good luck with that and try to keep a stiff upper lip.
Ditto. Jeez, talk about doom and gloom. I didn’t get that memo either. How money from my accounts has anything to do with filing for SS is beyond me. What free ride was that, that is now over?
Uhm....I don't know if you got the memo, but things have drastically changed. A whole economic shift is occurring and many will see their savings, incomes, SS, ability to retrieve money from ATMs etc,. vanish or become EXTREMELY difficult to retrieve. Any person who is eligible to get SS should take it...NOW! States are broke and some can hardly pay SS if at all, people are broke and losing jobs, 1000s of stores are closing, etc...The dollar is losing its reserve currency status and the PetroYuan was introduced this week. You know what that means? The free ride is over and all those unused dollars will return back to US shores and it's going to be a disaster. Paying $10 for a loaf of bread is no fun....! A person "should not wait" for money that is basically entitled to them in these changing times....GET IT WHILE YOU CAN....!
no memo here either . i don't see any such gloom .
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Nearly Identical Situation to OP
