Retirement Planning/Social Security Question

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Question
i will be 62 in November, i am retired and receiving retirement pay from former employer.  My ex husband is 72 (we were married more than 10 years)  my question is:   can i take Social Security from his at 62  and switch to mine at 66?i have spoken to people in their office and got 3 different answers.  
thank you

Answer
Richard E. Reyes, CFP
Richard E. Reyes, CFP  
Sorry for the delay as sometimes these questions go into our "junk" file. I would first contact a Certified Financial Planner in your area to go over your situation and review if this makes sense for you and how to "marry" your social security benefits with your current assets and income now and in the future. The issue may arise that since you are only 62, you may well be in a position where you will be paying your social security back due to penalty or taxes due to your income.

If you file for social security benefits before you reach full retirement age, your options will be limited. For example, if you file early, social security automatically gives you the larger of your own benefit, or a spousal (or ex-spousal) benefit. If you file early, you cannot take an ex-spouse benefit and then switch to your own benefit when you reach full retirement age.

Hope this helps!

Thanks for your question.  

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Richard E. Reyes, CFP

Expertise

I can provide answers to questions relating to retirement especially relating to; income distribution, tax efficiency, long-term care insurance, life insurance, estate planning, asset protection, variable and fixed annuities, alternative investments and prudent portfolio design.

Experience

Through the years Richard has built a reputation as one of Central Florida's expert on retirement income distribution by providing sound, unbiased wealth coaching. We believe that Financial Planning is the problem and Wealth Coaching is the solution. The Wealth Coaching process gives you Peace of Mind, so you can stop worrying about your future. It helps you find happiness as it guides you in the TRUTH of investing, by teaching you how to make wise choices as you journey through your life’s stages. It is all about your relationships and what you value, not your net worth.

Publications
Seminole Success Magazine “Retirement Planning” Seminole Success Magazine “Small Business Snapshot” The Orlando Sentinel – Ask the Expert Financial Section (Various) Greater Orlando Broker Agent Magazine “The New It” Senior Market Advisor “Random Reader, Random Questions”

Education/Credentials
B.S. University of Florida, Gainesville, FL
CFP Certificate, University of Central Florida, Orlando, FL

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