Social Security at 62 with minor children

[copyright1997reloaded]

Buckeye,
Regarding the SS recipient with a minor child, the situation s a little different. He has paid in to SS, and had to qualify for the benefits with these contributions. This program does not make any distinctions based on the need of a recipient--if you meet the age requirement, you get the checks. Same with spouses and kids.

This is exactly the distinction that is important. SS isn't (at least in theory) a welfare program but closer to an annuity/insurance program, and under the "rules" of this program with your social security payments to the government, you get in return an income stream (when eligible) and you also get other "insurance" benefits such payments if you die to your surviving spouse/children, along with the benefit the op asked about.

 

[DanJ]

Another example:
My husband and I adopted 5 children through the state. They were almost all infants at the time. The oldest is now 24 and out on his own. The younger children are 13, 12 , 9 and 10. My husband has always worked and I have also worked except when our children were very young. At 63 years of age, his job is ending after 28 years. If it were not for us being able to collect on social security and the kids collecting, we would probably not make it. Jobs are very hard to find at his age. I will however be able to keep working as a contract employee. I do want my children to go on to college.. Without them being able to collect on my husbands social security, we would probably have to use their college funds.

 

[73ss454]

I think it's very nice you guys like children and want to take care of them. Having children in your 50's or 60's is a choice. If you choose to have children I don't know why SS would have to take care of them. I can see it if a parent dies or is on disability but not for any other reason. But since it is the law I guess I'm good with it.

 

[wolf]

Another example:
My husband and I adopted 5 children through the state. They were almost all infants at the time. The oldest is now 24 and out on his own. The younger children are 13, 12 , 9 and 10. My husband has always worked and I have also worked except when our children were very young. At 63 years of age, his job is ending after 28 years. If it were not for us being able to collect on social security and the kids collecting, we would probably not make it. Jobs are very hard to find at his age. I will however be able to keep working as a contract employee. I do want my children to go on to college.. Without them being able to collect on my husbands social security, we would probably have to use their college funds.

Just my 2 cents. When My wife and I adopted, 18 and 14 years ago. Two infants, We had no idea when I turned 62, and took early SS, how the extra
money would help.

Someone, somewhere, must have know, the big "secret". When adopted children are older. Many, many, have emotional and behavioral issues.

Therapy, Psychiatrist, bills are huge. The range of emotional and behavioral
problems runs all over the place. Private placements, attorneys fees, etc...

Only, adoptive parents, can understand what I'm talking about...if not you
are one of the lucky ones.....

Again, just my 2 cents.....the extra money.....is a life saver.

 

[NYEXPAT]

Just my 2 cents. When My wife and I adopted, 18 and 14 years ago. Two infants, We had no idea when I turned 62, and took early SS, how the extra
money would help.

Someone, somewhere, must have know, the big "secret". When adopted children are older. Many, many, have emotional and behavioral issues.

Therapy, Psychiatrist, bills are huge. The range of emotional and behavioral
problems runs all over the place. Private placements, attorneys fees, etc...

Only, adoptive parents, can understand what I'm talking about...if not you
are one of the lucky ones.....

Again, just my 2 cents.....the extra money.....is a life saver.

Glad it worked out for you! One question. Am I correct in assuming that if you take your benefit at 62, your children's benefit is based on the full retirement benefit 66/67? In my case as we do not live in the USA my spouse is unable to receive a benefit! The rules are a bit strange because if we moved from Peru across the border to Chile, she would qualify.

 

[old woman]

Many retired people are raising grandchildren some they adopted. My boyfriend's mom took her daughters infant when she was about 50 and adopted him with her third husband. Her husband was 70 when the child was 6. She had mostly been a housewife with 3 husbands and was cleaning motel rooms a few hours a week in her 60s. Getting SS for the child was a major help. She was widowed about the time the boy finished high school. She didn't want to be a older widowed mother to a teen but her daughter was unfit to be a mother. She was 14 and on drugs when she had the baby and her mother felt the need to adopt him.

 

[thefinancebuff]

Regarding the SS recipient with a minor child, the situation s a little different. He has paid in to SS, and had to qualify for the benefits with these contributions. This program does not make any distinctions based on the need of a recipient--if you meet the age requirement, you get the checks. Same with spouses and kids.

The problem is that benefits for spouse and minor children come for "free" as in there is no reduction to the retiree's benefits. If both person A and person B had identical earnings and paid identical taxes, but person A has minor children and person B does not, person A and person B get identical benefits for themselves but person A's children just free ride. Same for spousal benefits. If person A married three times, each time more than ten years, all three qualify for benefits under person A's earnings records, whereas person B has been single and does not get any extra benefits.

 

[REWahoo]

If person A married three times, each time more than ten years, all three qualify for benefits under person A's earnings records, whereas person B has been single and does not get any extra benefits.

Some of us might consider not being divorced three times a priceless extra benefit...

 

[Nords]

Some of us might consider not being divorced three times a priceless extra benefit...

I don't think I want to qualify for any of the benefits under this system...

 

[bbbamI]

Oh my...a three year old thread brought back to life is about social security.

Who woulda thunk it?

 

[wolf]

Glad it worked out for you! One question. Am I correct in assuming that if you take your benefit at 62, your children's benefit is based on the full retirement benefit 66/67? In my case as we do not live in the USA my spouse is unable to receive a benefit! The rules are a bit strange because if we moved from Peru across the border to Chile, she would qualify.

My experience. Children's benefit is based on 62. Also, there is a "family
maximum" benefit. Also, when a child reaches 18, that child benefits ends.

However, due the "family maximum" benefit rule, younger children should
be able to collect, some of the "lost" benefit.

The SS web site is pretty accurate and explains everything.

 

[Brett_Cameron]

I am 55 and FIRE'd. DW is 32 and disabled, receiving SSDI. We have two minor children who receive a child's share each of SSDI. DW receives $910.50 per month, each child receives $190 per month. This total of $1,290.50 is the family maximum. I consulted with a rep at the local SS office about spouse's benefit for me and was told that I could but each child's share would decrease to maintain total family benefit at $1,290.50 per month. That was not unexpected but I had to ask.

When reach age 62 in a few years, I need to decide whether to start receiving retirement benefits. DW should be eligible for spousal benefit because we will have one child under age 16. The amount would be ½ of my “full retirement Primary Insurance Amount”. The minor child would also be eligible for ½ of my “full retirement Primary Insurance Amount”. I would be eligible to receive 70% of my “full retirement Primary Insurance Amount”. The sum of these would be under the family maximum ($4044.08/month, 2011 dollars) based on my study of the how they calculate family maximum here and my rough estimate: Social Security Handbook
DW would only be eligible for spousal benefit until the child turns 16 but the child would be eligible until he graduates high school at age 18. This adds some wrinkles to the answer to the question of whether to start receiving retirement benefits at age 62 or defer.

I intend to consult with SSA again to answer the following questions:

1) Do I have to actually receive retirement benefits for my family to receive benefits based on my work record starting when I am age 62 or can I apply for benefits and suspend payments until FRA or age 70 while family continues to receive benefits?

2) Assuming DW is still disabled (she has no stomach- long sad story) when child turns 16, will she be able to revert to her SSDI based on her record?

3) What would be better overall assuming I don’t die before age 86? ( I may have to crunch numbers for this and as someone’s signature says- numbers is hard).

Comments welcome!

 

[Katsmeow]

DH started taking SS between ages 62 and 63. We have children under 18. Their benefit is based upon 50% of his full benefit. With two children under 18 each receives now about 48% of his current benefit (this is due to reduction due to the family maximum). One of our children will turn 18 next year at which point our daughter's benefit will increase about $300 and will end up being a little over 60% of his current benefit. Theoretically I could have taken spousal benefits since our daughter is under 16 but I don't since I still work part time.

DW would only be eligible for spousal benefit until the child turns 16 but the child would be eligible until he graduates high school at age 18

Close but not exact. If the child is under 18 the child receives benefits even if the child has graduated high school before 18. Between 18 and 19 the child receives benefits if the child is a full time student, no higher than grade 18. So my son who is in college at 17 will stop receiving benefits when he turns 18 even though it will be during the school year. If he was still in 12th grade and turned 18 during the year, he would continue receiving benefits until the end of the school year.

 

[tired]

Has anyone collected SS at 62 or 65 with minor children. I read that each minor child is elgible to receive one-half the amount of the retiree's benefit. There is a family maximum so a person with many children would not receive a large amount.

I plan on collecting SS at 62. I have two children, 12 and 14. Just wondering if anyone has done this. Also, What paperwork do I have to bring to SS for verification?

Thanks in advance.

I know that my husband retired at 62 and we had two children under 18. They each received 55% of his benefit. Then I'm not sure why but when the oldest graduated from high school the younger ones payment went up to over 60% of his benefit.

 

[Katsmeow]

I know that my husband retired at 62 and we had two children under 18. They each received 55% of his benefit. Then I'm not sure why but when the oldest graduated from high school the younger ones payment went up to over 60% of his benefit.

This is because you met the family maximum before. There is a family maximum for SS benefits and so if you have two kids and each would receive say $1000 a month but you might bump into the family maximum so each might receive $850 a month. When one no longer receives due to age then the one remaining receives more.

We have 2 minor children receiving SS benefits. Our son will turn 18 in in late Spring. The time when one stops receiving is not exactly based upon graduating high school, it is based upon turning 18 unless the child hasn't turned 18 and then it runs through graduation (before 19 as I recall, not sure exactly).

So if our son turned 18 but was a senior in high school then benefits would run until he graduated. In his case, he graduated high school a couple of years ago so his benefits stop immediately on turning 18. Then our daughter will receive a "raise."

 

[wolf]

I know that my husband retired at 62 and we had two children under 18. They each received 55% of his benefit. Then I'm not sure why but when the oldest graduated from high school the younger ones payment went up to over 60% of his benefit.

Yes, other poster is correct. Is because of "family maximum". Interesting, It's been about 3 years, since I started collecting at 62. ( 2 young children). Oldest child turned 18, so her benefits stopped.

Then we had a choice, younger daughter's benefit could increase, (family maximum) or, and this is a crazy rule, if my wife is over 60 (forget the exact SS rule age), and younger daughter is under 16, wife could collect benefits until younger daughter turns 16. Then, wife's benefit stops, and younger daughter's benefit increases. (like your example, family maximum).

It our case, we collected a larger benefit, if wife collected, and we waited until daughter turned 16.