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If they have plenty of alternative income, no reason not to wait if they don't need it. But both are so close to where the difference is no big deal, so it really depends on health, expectancy, investment vehicles, RMDs, etc at this point, especially for him. We're only talking approx $600/mo difference total, so if they are active and have good reason to believe a long lifenis coming wait. If they feel like they want it now, to invest, then take it.
So either the wife has to wait after her husband has filed his SS at 70 and she is 66.5 to claim the SS benefit OR he filed for SS at 69.5 (should file on January).
I think the 1st option is better than the second one.
Good catch, Belladl, I missed that her spousal when he's 70 would be $1700/mo, far greater than she would get filing for her own, and only $165 less than her max at 70 amount, but 3 1/2 years sooner. No brainer. It makes sense even for them to both file at her FRA, IF they don't want to wait 7 months.
Yes, she should delay collecting her own SS until 70 but she can start collecting spousal SS benefit at FRA or 66.
She will get 1/2 of her husband SS (without his delayed retirement credits).
If I am not mistaken, spousal benefit can only starts after the spouse has filed SS and the 'deadline' for doing so has passed.
Just checked the 'deadline' and it is not until April 29 so the husband has to HURRY UP and file for SS next week and immediately suspend it. This way his wife can file for SS benefit when she turns FRA at 66 and he can resume his suspended SS at 70
File and suspend
The strategy: Typically, in “file and suspend,” one member of a couple would file and claim benefits—allowing his or her husband or wife to begin collecting spousal benefits—and then suspend his or her own benefit—allowing that future benefit to increase.
The change: Under the new rules, when an individual suspends his or her own benefits, not only will all benefits payable to that individual be suspended, but all benefits payable on his or her earnings record payable to other individuals will also be suspended.
What happens: Those who are receiving benefits now under this strategy will continue to receive them. The new rules limiting suspended benefits go into on April 30, 2016. After April 29, 2016, no one will be able to elect this option.
He can file online today and ask to suspend his benefits but think her best option is to walk in Monday to local office with proof of his e-filing and file for spousal..
Or maybe have both walk in and do face to face...
Some offices are so busy not making appointments closer than 45 days I have heard
The only end of April deadline is to File & Suspend. He can still file at anytime, though, and once she reaches FRA she can file anytime for spousal. That hasn't changed. F&S by end of April just gives them a little flexibility.
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