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SS at age 62 for both - question
03-29-2014, 10:51 AM
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#1
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 968
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SS at age 62 for both - question
I am trying to help my divorced sister project retirement income.
Her ex is 3 years older than she is. If he chooses to start SS at age 62, and she also chooses to start when she gets to age 62, does she get 50% of what he gets? (we already know that half of his will be higher than what she would get on her own earnings)
Thanks
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03-29-2014, 11:00 AM
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#2
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,473
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I am divorced, and this webpage has been helpful to me.
Retirement Planner: If You Are Divorced
It's a starting point, anyway!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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03-29-2014, 12:49 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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should be close, I would think. His SS is reduced by a factor because he is taking early and hers is reduced by a factor since she is taking early. Since they both start at age 62,
the factors should be similar since they are only 3 yrs apart. You can find the factors that depend on birth date here: Retirement Age Calculator
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03-29-2014, 01:46 PM
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#4
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 968
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Both these helped. Essentially, hers is calculated against his FRA benefit, but if she takes it at 62, she only gets about 1/3.
Great calculator link above from Kaneohe. Good info from W2R as well. Put together, I got my answer, so thanks to both!
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03-29-2014, 02:11 PM
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#5
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Full time employment: Posting here.
Join Date: Nov 2008
Location: Harrogate, UK
Posts: 921
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I kind of asked this question at the SS office last year. My wife's 50% spousal coverage is only 50% of what I will get if she waits until her full retirement age....which I believe will be 67. If she takes it at 62 they will reduce a certain amount for the time taken off.
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03-29-2014, 05:37 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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Quote:
Originally Posted by bizlady
Essentially, hers is calculated against his FRA benefit, but if she takes it at 62, she only gets about 1/3.
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so about 1/3 vs his PIA (his @ FRA) but about 1/2 of his actual, right?
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03-29-2014, 05:42 PM
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#7
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Dryer sheet aficionado
Join Date: Jan 2011
Posts: 25
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If she has the option she should take her benefit at 62 and then switch to his when she is at FRA. Until he retires she can't claim anything but her own record anyhow, so it would be best to do planning based on her own earnings record.
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03-29-2014, 05:56 PM
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#8
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Recycles dryer sheets
Join Date: Jan 2014
Posts: 170
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Quote:
Until he retires she can't claim anything but her own record anyhow,
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I think she may be able to apply for spousal benefits whether her "Ex" started retirement benefits or not. According to the link supplied by W2R the rule seems to imply she can claim if she was divorced "at least two years"...
e.g. Retirement Planner: If You Are Divorced "If your ex-spouse has not applied for retirement benefits, but can qualify for them, you can receive benefits on his or her record if you have been divorced for at least two years. "
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