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March 27, 2009


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Thanks for the article. Appropriate info for me and my younger wife some day.

Good series so far. Now let's hope Social Security sticks around for my generation. :(

This post is baffling on many levels. First, who the heck thinks social security will be around 30 years from now?

Second, I thought it only took 10-15 years of work experience to qualify. Heck, I think my work in college counted. Are there really women who coast off their spouses??? That blows my mind.

I agree with all the math in the example of Leland & Candy, really doesn't consider Leyand's wishes. If I was Leland and faced a prospect of retiring at 62 with eight years of retirement before I die at 70 vs. working nonstop until my death at 70, guess which one I'd take.

Nothing against Candy, but sheesh... if she's 25 years younger than Leland, perhaps she should get off her lazy a** and get some of her own Social Security earnings instead of "encouraging:" Leyland to work until he drops so she can take it easy and mooch off Leland's hard-won earnings. 25 years is plenty of time to retool, take classes, get a decent career and get her own SS earnings.

Perhaps, not my most empathetic post, but I am a big believer in self reliance. The idea of encouraging my spouse to work until he/she dies to fund my retirement smacks of selfishness and an "entitlement" viewpoint.

There is a hitch to your option 2. A retiree who is under their full retirement age (FRA) does not have a choice between applying on their own work record and applying as a spouse. They are deemed to have filed for both when they apply. The only way to choose between your own retirement and a benefit as a spouse is to wait until your FRA to apply. Assuming your spouse has already applied for benefits by that time, you can then choose an unreduced spouse's benefit and wait until age 70 to get a higher delayed retirement benefit.

This may not always be advantageous but it is worth checking out for couples who are close to the same age. The spouse with the higher benefit rate can also suspend his benefits until age 70 to get the higher delayed retirement rate but ONLY if he/she waits until his/her FRA to apply.

Please also point out to your readers that if you apply at 62 expecting to repay all the money at age 70, you do run a risk of dying before age 70. If that happens your widow/widower will end up with a permanently reduced survivor's benefit.

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