mountainsoft
Thinks s/he gets paid by the post
I thought I had a good handle on the calculation of spousal benefits, but ran across something today that left me with new questions. I hope I can word this in a way that makes sense.
I plan to apply for my social security benefits early at age 62, with reduced benefits around $600 per month.
Five years later, my wife will take her social security early at age 62, with reduced benefits around $1500 per month. Her full retirement age benefit is around $2000 per month.
I won't be eligible for spousal benefits until she applies for her own benefits, so I will be 67 when she applies for her benefits at 62.
Will my spousal benefit be around $650 (32.71% of her FRA) since I filed for my own benefits early at age 62, or will my spousal benefit be around $1000 (50% of her FRA) since I will be 67 when she files at 62?
Social Security says you are "deemed" for all benefits you are eligible for when you apply. So I assumed I would receive the former $650 spousal benefit when my wife applies since I applied for my own benefits early. Is that correct?
I plan to apply for my social security benefits early at age 62, with reduced benefits around $600 per month.
Five years later, my wife will take her social security early at age 62, with reduced benefits around $1500 per month. Her full retirement age benefit is around $2000 per month.
I won't be eligible for spousal benefits until she applies for her own benefits, so I will be 67 when she applies for her benefits at 62.
Will my spousal benefit be around $650 (32.71% of her FRA) since I filed for my own benefits early at age 62, or will my spousal benefit be around $1000 (50% of her FRA) since I will be 67 when she files at 62?
Social Security says you are "deemed" for all benefits you are eligible for when you apply. So I assumed I would receive the former $650 spousal benefit when my wife applies since I applied for my own benefits early. Is that correct?