You are here:

Retirement Planning/social security apply and suspend?


My wife will turn 66 on April 8, 2016, I will turn 62 on May 6, 2016. We are both working as college professors, are in reasonable health, and intend to work as long as possible. Salaries for both of us are about $100K.

Is there any advantage for my wife to apply for social security and then suspend payment? I could then file for spouse payment until such time that I would collect SS on my own.

Are there any tax consequences by my working and collecting SS benefits at age of 62?

Hi David,
Yes, there is an income limit which is currently $15,720. For every $2 you earn over that limit they will cut your benefit by $1. With $100k in income, you wouldn't receive anything. On the positive side, the longer you wait to collect SS, the larger your benefit will be. Here is some info from the SS website.

I hope this helps. Best of luck!


Retirement Planning

All Answers

Answers by Expert:

Ask Experts


David M Iannopollo


I am a professional financial advisor who can assist you with answers on mutual funds, annuities, IRA's, rollovers, qualified and non-qualified retirement plans, retirement planning, educational planning, life, disability and LTC insurances. I can also show you how to take advantage of the stock market gains without the risk of loss!


I have over 25 years experience in the business and financial world.

Life experience has been my greatest education!

©2017 All rights reserved.