Social Security Benefits & Dependents Q

[tb001]

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-soc...-it-a-good-deal-to-start-early-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?

 

[VanWinkle]

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.

 

[tb001]

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, that’s helpful. Definitely better to wait for me, since we’re ~$20/mo below the family max with just DH and the kids. I just don’t know why it didn’t 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/yr—enough to move the needle on our success rate!

 

[Katsmeow]

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).