IF YOU ARE ELIGIBLE TAKE ADVANTAGE OF 2 CURRENT SOCIAL SECURITY CLAIMING STRATEGIES

November 6, 2015

IF YOU ARE ELIGIBLE TAKE ADVANTAGE OF 2 CURRENT SOCIAL SECURITY CLAIMING STRATEGIES

TWO SOCIAL SECURITY STRATEGIES FOR MARRIED COUPLES ENDING

  • “File and suspend”: one spouse files for benefits but suspends collecting them until full retirement age
  • Filing a restricted claim for spousal benefits: collecting half of spouse’s benefits while waiting to collect full benefits in later years

WINDOW OF OPPORTUNITY

    • 62 or older by year-end
    • Retain right to collect spousal benefits starting at 66 = full retirement age
    • Spouse has to have claimed retirement benefits or requested to file & suspend benefits within 6 month window

Source: Mary Beth Franklin, Author
Maximizing Your Social Security Benefits

Watch the related WEALTHTRACK episode.


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