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Old 09-18-2012, 05:23 PM   #41
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So you're living with 4 hotties?
Yes, but my wife prefers I not think of it like that!
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Old 09-18-2012, 05:49 PM   #42
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So my DW is 3 years older than I am, and 1/2 of my benefit at fra is less than her draw when she is 66, then my plan is for her to take at 66 (FRA), and I file for spousal been when she is 66 or when I'm 66? I'll wait till 70 to start mine giving her the max if she outlives me. So, when can I claim spousal?
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Old 09-18-2012, 08:06 PM   #43
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So my DW is 3 years older than I am, and 1/2 of my benefit at fra is less than her draw when she is 66, then my plan is for her to take at 66 (FRA), and I file for spousal been when she is 66 or when I'm 66? I'll wait till 70 to start mine giving her the max if she outlives me. So, when can I claim spousal?
This is really difficult to find the answer. I found some information at this url:
Benefit Reduction for Early Retirement

It talks about taking spousal benefits at 62 but then mentions taking a 30% reduction by the spouse and a 25% reduction by the primary. It's still not totally clear to me.

My report from socialsecuritysolutions.com suggests that I file and suspend at 66 and DW takes spousal bene's when she reaches 66 (4 months after I reach 66). I take my bene's at 70 and she takes her bene's at 70.

It doesn't mention that we should start at 62. When I figure total dollars I find there is $60,000 difference for the first 8 years.
What a confusing subject!
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Old 09-19-2012, 05:07 AM   #44
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This is really difficult to find the answer. I found some information at this url:
Benefit Reduction for Early Retirement

It talks about taking spousal benefits at 62 but then mentions taking a 30% reduction by the spouse and a 25% reduction by the primary. It's still not totally clear to me.

My report from socialsecuritysolutions.com suggests that I file and suspend at 66 and DW takes spousal bene's when she reaches 66 (4 months after I reach 66). I take my bene's at 70 and she takes her bene's at 70.

It doesn't mention that we should start at 62. When I figure total dollars I find there is $60,000 difference for the first 8 years.
What a confusing subject!
So I went to the source you quoted, which I should have done anyway. I found another close by link Benefits for Spouses that includes a calc to show what the impact would be if you take spousal benne prior to 66.

A quote from the site: "A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month."

So I used the calc to see what would happen if I took spousal benne at 62 (gotta be 62 plus one month) at 64, and at 66+4 or my FRA.

Age...Percent.....Payout....Months....Total $$
62.....34.38%.....$453.......99...........$44,847
63.....36.88%.....$486.......87...........$42,282
64.....40.63%.....$535.......75...........$40,125
66.....50%.........$659.......48...........$31,632

I had to add 3 months cause I will need 66+4months for FRA
So if I used a valid method of comparing the options, I should take
spousal benefit as early as possible. I suppose this is because of actuarial chance of not getting all 99 months of benefits.

I would appreciate any comments about is this a valid method of comparing or not. Again, just to keep from having to bounce back to my previous post, I am 3 yrs younger than DW and plan for her to take SS at 66, me at 70 and wanted to take spousal benefit after she retires. Hrmm one problem, I would have to wait till I'm 63 then, cause she has to be 66 in my example...Dang it...so I added age 63 in the table above.
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Old 09-19-2012, 07:09 AM   #45
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I used the AARP calculator, while it did note that my SS would be a certain % higher if I hold off collecting till age 70, I did not see anything which talked to the cost of medicare I would have to start paying at age 65.
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Old 09-19-2012, 07:47 AM   #46
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What I'm considering is having my wife take her ss soon (she'll be 63 next Jan). I'll then take the spousal benefit. I don't care what the reduction of her's is because I plan to take my ss at age 70 and she will take spousal benefits of my ss at that time. My ss is over twice of what she would ever draw.
Anyone see anything wrong about this?
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Old 09-19-2012, 08:25 PM   #47
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Been lurking these forums for some time, but I'll have you know this thread forced me to join.
I wanted a) to see pics of hot wives, b) to stop seeing ads between the 1st and 2nd post on every page, and c) to comment on the hilarious advice itt to hold wife's hand in public.
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Old 09-19-2012, 08:40 PM   #48
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Yes, but my wife prefers I not think of it like that!
Let's play where is the Swede?

Dude, you get my vote. They are all lovely.

Ha
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Old 09-20-2012, 10:33 AM   #49
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Been lurking these forums for some time, but I'll have you know this thread forced me to join.
I wanted a) to see pics of hot wives, b) to stop seeing ads between the 1st and 2nd post on every page, and c) to comment on the hilarious advice itt to hold wife's hand in public.
Welcome to the ER.org/alternative retirement living/sub-forum!
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