SS File and Suspend for Singles

[CoolChange]

I never gave much thought to my SS filing options since I am single and healthy: Basically, wait until 70 to file and collect unless my $$$ or my health runs out before that.

But, this month's Kiplinger had a tidbit that modifies my strategy: File and suspend at my full retirement age to keep the option open of a lump sum payout if something happens between my full retirement age and age 70.

You can read a summary of the article online at the Kiplinger site if you like, the paper magazine article is much longer: The Power of Filing and Suspending-Kiplinger

A warning about this link: They occasionally have good information like this; but, I absolutely hate the site design, way too busy with pop-ups, videos, etc. for my taste. You have been warned.

Apologies if this has already been posted or is already well known by everyone but me; however, since it was new and interesting to me, I decided to post hoping it will be beneficial to others.

 

[mathjak107]

this has been discussed here many times. most folks do not know singles can do a file and suspend.

if they do this at fra and find 2 years later they need a roof or are ill they can get a lump sum going back to fra. they then get adjusted lower going forward.

they have zero claim to this money if they did not do a file and suspend.