Social Security Experts Question

[ValerieJo]

I'm hoping someone can answer my hypothetical Social Security question. I still have a couple more years so I really haven't done much research yet.

This is just an Example (no actual dollars were used):

My SS benefit = $1,000 per month
My Ex Husband benefit = $1500 per month (we were married 11 years back in the 1980's - Father of my children)
Current Husband benefit = $1500 (married over 20 years, no kids together)

When I go to file for SS (at age 62) do I have to take my $1,000 monthly benefit?

Is there a way to get more money by taking ex-husbands benefit? (He is married to someone else). Would I only be able to take 1/2 or full amount?

I am assuming my current husband will take his benefit and I won't be able to claim any of it.

I realize I should talk to my financial planner and SS office, but I was curious to know if there is a way to increase my monthly benefit by taking ex-husbands?

Sorry, I'm just starting to learn about Social Security benefits.

Thanks for any input.:confused:

[coach]

Lots of variables here. How old is husband. When you begin SS benefits at 62 you will have a 25% reduction from your full retirement benefit. This is the amount you would get at 66. Your husband must be full retirement age for you to claim benefits against his benefit records. But even if you do, you will still be penalized 25% for beginning SS at 62. Since you are remarried you cannot claim on your first husband.

I know this may be confusing but be sure to check everything out with SS and make an informed decision. Once you decide to claim benefits that decision lasts forever.

[Paper1]

I'm hoping someone can answer my hypothetical Social Security question. I still have a couple more years so I really haven't done much research yet.

This is just an Example (no actual dollars were used):

My SS benefit = $1,000 per month
My Ex Husband benefit = $1500 per month (we were married 11 years back in the 1980's - Father of my children)
Current Husband benefit = $1500 (married over 20 years, no kids together)

When I go to file for SS (at age 62) do I have to take my $1,000 monthly benefit?

Is there a way to get more money by taking ex-husbands benefit? (He is married to someone else). Would I only be able to take 1/2 or full amount?

I am assuming my current husband will take his benefit and I won't be able to claim any of it.

I realize I should talk to my financial planner and SS office, but I was curious to know if there is a way to increase my monthly benefit by taking ex-husbands?

Sorry, I'm just starting to learn about Social Security benefits.

Thanks for any input.:confused:
There is a boat load of SS help sites on web. I'd start with AARP and Kiplingers. A lot of different senarios at both of these sites.

[Nightengale212]

This is from the SS web site:

After A Divorce

If you were married for at least a decade and subsequently divorced, you’re entitled to claim Social Security benefits based on the work history of your ex-spouse -- even if he subsequently remarries – as long as you remain single. If you marry someone else, however, you’re no longer eligible to claim those benefits, though you can take spouse’s benefits based on your new husband’s work history instead.

[Villager Dude]

Need age of you and husband to evaluate options.

[Villager Joyce]

Charles Schwab Onward has a great article in the Spring 2015 issue. Lots of variables for sure. I would make an appointment to speak with someone in the leesburg SS office. I'm not good with websites because the scenarios are not quite what I'm looking for.

[ureout]

you are only elegible for your new husbands benefits....but if you are elegible for $1000 on yours you would be better off that way....the percentages you would receive of his would equal out to about 37 1/2 % of the $1500 which is $ 562.50 that is estimated on both of you taking early benefits.....

[Villages PL]

Take whichever is the least amount and you will sleep better at night knowing that social security will stay in better financial condition for a longer time. Just kidding!

[rjm1cc]

Your claiming on one of your husbands does not affect their benefit.
You get your benefit or there's, which ever is higher.
Look at file and suspend.
I favor delaying SS if you can afford too. Be sure you understand this option.
Good that you are starting to learn about the subject.
There is a lot of miss information so don't be surprised if you get conflicting info, this includes SS employees.

[Mleeja]

I'm hoping someone can answer my hypothetical Social Security question. I still have a couple more years so I really haven't done much research yet.

This is just an Example (no actual dollars were used):

My SS benefit = $1,000 per month
My Ex Husband benefit = $1500 per month (we were married 11 years back in the 1980's - Father of my children)
Current Husband benefit = $1500 (married over 20 years, no kids together)

When I go to file for SS (at age 62) do I have to take my $1,000 monthly benefit?

Is there a way to get more money by taking ex-husbands benefit? (He is married to someone else). Would I only be able to take 1/2 or full amount?

I am assuming my current husband will take his benefit and I won't be able to claim any of it.

I realize I should talk to my financial planner and SS office, but I was curious to know if there is a way to increase my monthly benefit by taking ex-husbands?

Sorry, I'm just starting to learn about Social Security benefits.

Thanks for any input.:confused:

Check Amazon for the "Social Security For Dummies" book. It is very helpful in describing your options. It is good to have a background before talking to a Financial Planner or the SS Office. One thing I have heard from several sources is do not count on the SS office to give you the best advise.

If you cannot find the book on Amazon, pm me and I'll get you the information. I do not have it at my "finger tips" right now.

[slipcovers]

Valerie Jo, How are you doing with selling your house? I recall from your previous posts that you are older than your husband so you would not be able to collect on his SS until he is retired eligible, 66, 67, to collect SS. You can collect yours at 62 and then collect half of his when he is eligible. You cant collect both yours and his at any time, it is either or, whichever is greater.

You will be penalized if you collect at 62 and you are not eligible for Medicare until 65.

[patfla06]

I just did the math.

Yes, if I take it at 62 i will get less but collect longer.

My plan is to start collecting at 62 and put it directly into
savings.

Why take the risk of never collecting or collecting for a
shorter time.

You just never know. :icon_wink:

[rjm1cc]

I just did the math.

Yes, if I take it at 62 i will get less but collect longer.

My plan is to start collecting at 62 and put it directly into
savings.

Why take the risk of never collecting or collecting for a
shorter time.

You just never know. :icon_wink:

In my mind it is not all math. Longevity is an unknown and you never know what the future will hold. Investments might go down.

What is your investment return after taxes? Hard to beat social security return. Remember SS has an inflation adj. and part is not taxed.

Also spouse can collect on it at your death if it is higher than theirs.

I run my calumniation to 100. If I die and get less money I will never miss it.

Generally I think the higher wage earner should defer to 70 and the younger start at full retirement age. Also look at file and suspend.

There is a lot to think about when getting SS IF you can afford to wait.

[patfla06]

I can see your point.

///

[outlaw]

Based on the info you provided, take your SS. It's the greatest of all possible scenarios.

[virgind]

First talk to SS and find out what they say. Skip the middle man. I may be wrong but you cant collect till your current spouse is of full retirement age. You collect from his till you are of full retirement then collect your full amount and give up his. Again talk to SS directly.

[Villager Joyce]

I am presuming most of us were/are professionals. I know the areas of my expertise, as well as the areas where I have zero expertise. What is the hesitancy of professionals to ask a professional (doctor, lawyer, taxes, social security, medicare ) rather than post a question on a forum? Even considering this as a "second opinion" is a bit frightening. IMHO P.S. I mean no disrespect to this or any other poster.

[rjm1cc]

I am presuming most of us were/are professionals. I know the areas of my expertise, as well as the areas where I have zero expertise. What is the hesitancy of professionals to ask a professional (doctor, lawyer, taxes, social security, medicare ) rather than post a question on a forum? Even considering this as a "second opinion" is a bit frightening. IMHO P.S. I mean no disrespect to this or any other poster.
I think it helps to educate yourself before asking SS a question. My first hand experience from face to face meetings is that you do not always get the correct answer and the do not always process the paper work correctly. Also there job is not to tell you how to get the most from the system.

[patfla06]

I looked at the math.

If I live to 80 the difference between 62 or 66 is only a few
thousand difference.
I would rather not take the risk.

[patfla06]

First talk to SS and find out what they say. Skip the middle man. I may be wrong but you cant collect till your current spouse is of full retirement age. You collect from his till you are of full retirement then collect your full amount and give up his. Again talk to SS directly.

My Husband gets full social security.
I can begin at 62 (75% plus a little more due to his much larger
amount).
If I wait until 66 I get 100% of mine.
After his death, I get his full s.s. And mine drops off.

[Villager Joyce]

I think it helps to educate yourself before asking SS a question. My first hand experience from face to face meetings is that you do not always get the correct answer and the do not always process the paper work correctly. Also there job is not to tell you how to get the most from the system.

Your answer makes me feel better. Gathering information so you know what questions to ask is smart. I was concerned people would not seek the help of a professional because someone in TOTV said you don't need to.

[tcxr750]

I agree with gathering information before going to the SS office. At one office I was given a negative response to my question without an explanation. At another SS office the person explained the answer to my question fully. Lots of information on the internet.

[faulguy112]

Go to your local Social Security Office and they will help you. Every year the law could change so whatever people tell you could be true or it might not.