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Social Security at 62, 66, or 70?
I took my social security at 62, but now that my wife is 62, I have been trying to convince her to wait until we need the added income (which may or may not be soon) so that her income after I die can be a little higher. I have heard from some who say Congress may take away Social Security and that she should take it while she has the chance, and that she may not live to 66, and that she should take it while she is still alive. Of course, if she dies, she won't need the money; and if Congress takes it away, all of us will lose. My concern is that she will need more monthly income once my social security is gone. Please explain why you would choose when you would choose to take your social security benefits.
3 Answers
- ?Lv 710 years agoFavorite Answer
a friend of ours died and her hubby received social security benefits on her work record at 62 until he turned 66 at which time he switched over to his own social security work record which game him more income.
- JacksonLv 410 years ago
I took my SS at 62 out of necessity. Husband retired at 63 while I was still working as a subcontractor in medical transcription - paid by the line, no paid holidays, no medical benefits, made ALL my own quarterly social security payments into SS - in other words, no production, no pay and give the government not half but ALL. But I was a very fast typist, proficient in medical terminology, so my pay checks were quite large - as were my quarterly payments.
The contractor decided to close their business, so after 16 years of working for them and losing my job at 61, our only source of income was his social security and a small retirement income from the City.
Jobs are hard to find for many, even part time, especially for seniors.
- Anonymous10 years ago
She can actually draw on your SS now if she were to retire.It just depends on which one gives her the most money.She can draw from hers or yours either one.Because she is your wife.
