Dear Liz: I am recently divorced but was married for 20 years. My ex is 12 years older and he waited until 70 to start collecting Social Security benefits. I am 62 and self-employed. My retirement benefit is greater than half of his (but not by much). It is my understanding that after his death I can collect his full benefit, provided I am at least 67 when I apply, even if I start taking my own benefit now at 62. Is that correct?
Answer: Yes, but he could live a long time. Starting your own benefit now means you’ll get much smaller checks for years, perhaps even decades, compared with what you’d get by waiting. Plus, any benefit you take before your full retirement age would be subject to the earnings test, with $1 withheld for every $2 you make over a certain amount ($22,320 in 2024).
You may not have much choice, but if you do, waiting to apply is usually the best option.