Dear Liz: My wife will be 62 in a few months. I am 77 and we both work full time. Can she collect her spousal Social Security benefit while still working and take her full benefit at 70?
Answer: That option is available to her only if she waits until her full retirement age (currently 66) to apply for spousal benefits. If she applies for spousal benefits before age 66, she won’t be able to switch to her own benefit later. Also, applying early means that her benefit would be reduced by $1 for every $2 she earns above an annual limit, which is $15,480 in 2014.
- Q&A: Social Security and spousal benefits Dear Liz: A friend of mine has told me that he thinks that I can apply for spousal benefits at my full retirement age and hold off getting […]
- Delay collecting Social Security for a bigger benefit Dear Liz: My spouse started collecting Social Security in 2002 at age 63. I am 59, and not working, so my future benefits are unlikely to […]
- Q&A: Waiting to claim Social Security benefits Dear Liz: I am 64 and happily, gratefully receiving early Social Security benefits. My wife is 59, and when she turns 62 she will get half […]
- How spousal benefits work Dear Liz: My wife has never worked outside the home and therefore has no Social Security credits. My understanding is that as a nonworking […]