Will I be able to file for early retirement benefits on the smaller payout, then change to
the larger at full retirement age using the divorced spousal filing for one of the times?
Not exact matches
Can you afford to «retire early» and claim benefits
at age 62, should you wait until your
full retirement age, or can you wait until
age 70 in order to receive the
largest possible monthly benefit?
Here is the bottom line as far as I can see: IF you are self - employed when filing for early
retirement, and *** if, on your application, you are asked how many hours you work *** (and I would like to hear from anybody here who has actually filed for benefits before their
Full Retirement Age) and IF you work more than the allowable hours to be considered «retired» (again, I believe it's no more than 45 for most people but no more than 15 if you work
at an occupation requiring a «specific skill» or own a
large business),
at your
full retirement age or later, you will receive a
larger monthly benefit for a shorter period of time.
Then
at full retirement age, I would switch to the other record, depending on which would be a
larger monthly amount.
But if you wait until
full retirement age, you can restrict your claim to spousal benefits, receiving half of your spouse's benefit amount, and switch to your own
larger benefit
at 70.
Based on this information and your actual earnings history as maintained by the Social Security Administration, the
Retirement Estimator generates an estimate of the amount you would receive if you were to retire
at age 62 (the earliest date you can receive benefits), the amount if you waited until
full retirement age (which currently ranges from 65 to 67, based on year of birth), and the
larger benefit you would receive if you continued working until
age 70 before claiming
retirement benefits.
Can you afford to «retire early» and claim benefits
at age 62, should you wait until your
full retirement age, or can you wait until
age 70 in order to receive the
largest possible monthly benefit?