One thought on “Social Security”

  1. Mike Finley says:

    The spousal benefit has been severely limited with new legislation in 2015, but there is still opportunities for some. IF you were 62 years old at the end of 2015, you can still file for this benefit off of your spouses benefit as you delay your benefit, letting it grow at a guaranteed 8% per year.

    The strategy is fairly simple, but full of potholes for those who are lacking information. One spouse must file and then the other spouse files for the spousal benefit as they receive half of the other spouse’s benefit at Full Retirement Age (FRA). This smart strategy has pitfalls so keep reading.

    File the spousal benefit only when you reach FRA (65,66, or 67 based on birth year). If you were younger than 62 at the end of 2015, don’t do it unless you have little to no benefit yourself. You will end up being deemed and that means you will get the spousal or your benefit, whichever is bigger.

    There is plenty to learn on the this subject. Read Graduation! to better understand the issue as it relates to retirement and creating more fixed income. Also read, Get What’s Yours (updated version) to learn in more depth on the subject of Social Security and the many options you may have.

Leave a Reply

Your email address will not be published. Required fields are marked *

The Crazy Man in the Pink Wig