Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Social Security Benefits & Dependents Q
Old 06-20-2019, 05:17 PM   #1
Recycles dryer sheets
 
Join Date: Sep 2017
Posts: 490
Social Security Benefits & Dependents Q

When I first started digging into the possibility of RE, one of the forum members suggested we look into potential SS benefits as a family based on the post below and the fact that we got a late start and have young kids at home.

https://www.kitces.com/blog/why-soci...and-not-delay/

As I understand it, DH could file at 62, receiving reduced benefits, but both of our children are eligible for benefits until they turn 18, at a rate 50% of his NRA benefits, up to the family max. I, as his spouse, could also apply for spousal benefits if I were 100% caring for the children, up until they are 16.

As I run the numbers, I realize that between DH's benefit and both kids, we'll hit the family maximum. This is probably a dim Q, but can you only apply for benefits for primary and dependents and have the spouse (me) file later on their own benefits?
__________________

tb001 is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-20-2019, 08:16 PM   #2
Thinks s/he gets paid by the post
VanWinkle's Avatar
 
Join Date: Oct 2017
Location: Brighton
Posts: 1,238
If you file for spousal, you are deemed to have filed for both your benefit and spousal. You can no longer collect spousal and then let your benefit grow. As your benefit would expire at kids age 16, it may be better to wait to file for your benefit later. If you wait until your full retirement age(FRA), you will get 50% of spouses FRA benefit even though he took it early. That may or may not be better than your own benefit.
__________________

__________________
Retired May 13th(Friday) 2016 at age 61.
VanWinkle is offline   Reply With Quote
Old 06-21-2019, 09:20 AM   #3
Recycles dryer sheets
 
Join Date: Sep 2017
Posts: 490
Quote:
Originally Posted by VanWinkle View Post
If you file for spousal, you are deemed to have filed for both your benefit and spousal. You can no longer collect spousal and then let your benefit grow. As your benefit would expire at kids age 16, it may be better to wait to file for your benefit later. If you wait until your full retirement age(FRA), you will get 50% of spouses FRA benefit even though he took it early. That may or may not be better than your own benefit.
Thanks, thatís helpful. Definitely better to wait for me, since weíre ~$20/mo below the family max with just DH and the kids. I just donít know why it didnít click earlier that I should hold off! If I hold off and file on my own claim at FRA it will give us an extra 10k/yróenough to move the needle on our success rate!
tb001 is online now   Reply With Quote
Old 06-21-2019, 02:09 PM   #4
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 4,195
Yes, this is why DH filed for benefits at age 62 as we had two children under 18. Just the 3 of them hit the family max so the benefit to the kid was reduced a bit. Then, when one child hit 18 the benefit to the remaining child increased to the max for that child as the two of them (DH and remaining child) were under the family max. (I didn't file for benefits even when there was a child under 16 as I was still working).
Katsmeow is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
HSA, divorce, dependents and contributions tulak FIRE and Money 1 03-26-2019 09:12 AM
Optimizing SS when you have minor dependents? BigJ FIRE and Money 2 05-18-2018 01:48 PM
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 03:51 PM
Scraping off the dependents cute fuzzy bunny Health and Early Retirement 5 07-13-2008 03:11 PM
Space -A for Dependents mickeyd Other topics 1 01-02-2008 01:21 PM

» Quick Links

 
All times are GMT -6. The time now is 08:22 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×