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I'm sorry but this subject is so confusing I thought I'd spell out out situation for advice. Wife is 60, I'm 58. We've figured her full benefit is roughly the same as 1/2 of mine at FRA Original plan as for me to file when she reached FRA of 66/4 (I'll be 64) have her take 1/2 of mine, then at 70 she takes her own which has grown to more than 1/2 of mine. But that's no longer an option so we figured she would just file at FRA for her own.
How does this change that? Is this saying she can file under her own at 62, at a meager benefit, then when I file at say 65 she can then claim 1/2 of my benefit? What sort of penalty will she pay when she receives 1/2 of mine because she received her own at 62?
And just to be clear when she files for 1/2 of mine she will receive 1/2 of the amount I am receiving should I file before my FRA, she will not get 1/2 of my FRA as I filed early correct?
no good . in order for her to take half yours and let hers grow to 70 she had to be 62 in 2015 . restricted application is off the table for you two now .
again -use the spousal calculator .
your wife will never get 1/2 yours as a spousal benefit once she takes her own pre fra . she only gets 1/2 if she waits until her own fra to first file .
her benefit if she takes hers at 62 will be 1/2 your fra amount less 30% if her fra is 66. otherwise the cut is more. she gets that once you file and she gets spousal, her own benefit would stop . if her own is more she gets nothing more and keeps her own .
someone born in 1960 filing at 62 would get spousal of 1/2 the fra of the higher record less 35% as a total benefit .
the clock starts ticking once she diles for her own benefit , even if you hold off filing and she can't that spousal benefit until you file .
it is like my wife filed at 62 , but i did not file until 65 and now she is 67 . it does not matter that she is first getting spousal now . spousal is based on when she first filed at 62. so now at age 67 there is no difference in her spousal whether it kicked in at 62 because i filed early or if i delayed and now it kicks in after her fra . she just does not get those payments pre me filing but she does not get anymore .
no good . in order for her to take half yours and let hers grow to 70 she had to be 62 in 2015 . restricted application is off the table for you two now .
again -use the spousal calculator .
your wife will never get 1/2 yours as a spousal benefit once she takes her own pre fra . she only gets 1/2 if she waits until her own fra to first file .
her benefit if she takes hers at 62 will be 1/2 your fra amount less 30% if her fra is 66. otherwise the cut is more. she gets that once you file and she gets spousal, her own benefit would stop . if her own is more she gets nothing more and keeps her own .
someone born in 1960 filing at 62 would get spousal of 1/2 the fra of the higher record less 35% as a total benefit .
the clock starts ticking once she diles for her own benefit , even if you hold off filing and she can't that spousal benefit until you file .
it is like my wife filed at 62 , but i did not file until 65 and now she is 67 . it does not matter that she is first getting spousal now . spousal is based on when she first filed at 62. so now at age 67 there is no difference in her spousal whether it kicked in at 62 because i filed early or if i delayed and now it kicks in after her fra . she just does not get those payments pre me filing but she does not get anymore .
Yeah I was aware that the first idea was now off the table. So it looks as if our amended plan for her to wait for her FRA to see which is higher, hers on her own or 1/2 of my benefit is the best move. But to clarify when she is FRA I'll only be 64. If she wants 1/2 of mine I need to file then too right, reducing my benefit and her 1/2? So if her benefit is close to 1/2 of mine at that point in time we are better off having her file on her own and allowing me to wait and get a larger benefit later. Correct?
you would need to file at 64 if she wants to wait to file until she is fra . in this case your benefit is reduced but she will still get 1/2 your full with no further reduction if she files at fra .
your bigger benefit by waiting longer will likely be the better deal since she is based on 1/2 your fra as a starting point . there is no delayed credit with spousal so she should at least file for her own at fra while waiting . .
So are you saying when she is at FRA she files for her own benefit. Then when I file, even if I file at 65 and a year before my FRA, she can then file and receive 1/2 of my FRA figure if that figure is larger then her FRA benefit? If that's the case should she file earlier than her FRA and then files for 1/2 of mine after I file she would not get the full 1/2 as a penalty for filing early under her own earning correct?
yes you have it correct .she will get less than 1/2 your fra benefit if she files under fra .
basically as soon as she files for her benefit , regardless of age she is deemed filing for spousal . if you are collecting you call ss and they will just mesh her and you so she gets the higher amount . if you aren't collecting she is still deemed filed for spousal , only she does not actually get it until you file .
once you do ,call ss and they will join you two . spousal is deemed filed for automatically but until you call when she is eligible after you file and answer some questions she wont see the benefit .
once i filed , my wife called ss and they asked her some questions about us . then they had me get on the phone and verified what she told them . then done .
OMG I'm so confused. Let me ask you this to help me understand. I just turned 62. DH is 64.5. My FRA amount (at 66.2) is almost exactly half of his FRA (at 66). SSAnalyze did give me several scenerios and it looks like I am going to file Jan 1, 2018 when I am 62.3. DH will wait for his FRA.
If these are our numbers: Me, FRA 1200 mo 900 age 62 1,000 mo if I wait until 63.5 until DH is FRA
DH, FRA 2400 mo
If I am understanding the SSAnalyze correctly, it doesn't pay for me to wait.
Thanks as always for the help. So the big news is there is no change to her 1/2 of my FRA if I file a year early which is the plan as of today. The key is to make sure she does not file before her FRA or she will have reduced benefits for life. One last thought even though it's not the plan. What if I delay and file after my FRA, would her 1/2 be from my FRA figure or will she get a larger share if I delay?
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