Admittedly I know nothing about Social Security, but I need some help from the board on what is probably a fairly common scenario for 2 spouses retiring:
Spouse A: 66 years old, Retired with disability, and is considering filing for Social Security Disability
Source B: 62 years old, non-working
The latest statement from Social Security shows the current eligibility for SS
Spouse A: $1900/mo (without disability)
Spouse B: $890/mo
Is this course of action possible:
Spouse A: File & Suspend social security until age 70
Spouse B: File for Spousal Benefits @ $950/mo (50% of $1900 spousal benefit)
Then when spouse A reaches 70:
Spouse A begins drawing at $2600/mo (8% increase annually)
Spouse B begins drawing own benefit at age 66
Is that the way this works? Does social security disability put a kink in this plan?
Thank you in advance, I appreciate it!
Spouse A: 66 years old, Retired with disability, and is considering filing for Social Security Disability
Source B: 62 years old, non-working
The latest statement from Social Security shows the current eligibility for SS
Spouse A: $1900/mo (without disability)
Spouse B: $890/mo
Is this course of action possible:
Spouse A: File & Suspend social security until age 70
Spouse B: File for Spousal Benefits @ $950/mo (50% of $1900 spousal benefit)
Then when spouse A reaches 70:
Spouse A begins drawing at $2600/mo (8% increase annually)
Spouse B begins drawing own benefit at age 66
Is that the way this works? Does social security disability put a kink in this plan?
Thank you in advance, I appreciate it!