Retirement Planning/Social Security Retiement

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Question
I am considering getting social security at 62, my spouse gets it.  Since I Haven't worked that much, I am using his social security benefits to retire from.  He is 66.

I am just wanting to make sure I covered all aspects.

Is there any information that is commonly ignored or overlook that you think is important enough to be shared.

Any tips will be appreciated.

Answer
Sallie,

You should be aware that your benefits will be much lower if you start to collect them at age 62 (32.5% of your spouse's benefits) than if you wait until your full retirement age (50% of your spouse's benefits) to collect them. See here for a full explanation: https://www.ssa.gov/planners/retire/retirechart.html

Michelle  

Retirement Planning

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Michelle

Expertise

I can answer questions about Social Security eligibility, benefits and income taxation. I cannot answer questions about employer pensions, 401(k)s, IRAs or other private retirement funds.

Experience

During my career, I counseled the elderly about Social Security, Medicare and Medicaid benefits.

Education/Credentials
B.A., Bowdoin College, History and French M.S., University of Southern Maine, Health Policy and Management J.D., New York University School of Law

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