This is such a complex situation! I'm actually dealing with something similar with my parents right now. One thing that might help is using the SSA's online calculators or getting a personalized statement to run different scenarios. What really struck me from everyone's responses is how much that early filing penalty adds up over time - we're talking about potentially losing hundreds of dollars per month for the rest of her life. Have you considered what would happen if she worked part-time or found other income sources to bridge the gap until her FRA? Sometimes the math works out better to wait even if it means tightening the budget for a few years. Also, since you're planning to wait until 70 anyway, you might want to factor in cost of living adjustments (COLAs) that could increase both your benefits over time. The reduction percentages stay the same, but the base amounts they're applied to will likely grow. Good luck with your decision - this stuff is way more complicated than it should be!

As someone new to understanding Social Security benefits, this thread has been incredibly eye-opening! I had no idea that filing early creates permanent reductions to BOTH your own retirement benefit AND future spousal benefits. Reading through everyone's explanations, it sounds like the key takeaway is that when your wife files at 62, she's essentially locking in reduction factors that will follow her for life (except for survivor benefits). The math showing she'd get around $1,414 instead of the full $2,175 spousal benefit really puts it in perspective - that's nearly $800 less per month! One question I have after reading all this: are there any scenarios where filing early for spousal benefits still makes sense? Like if someone has health concerns or really needs the income? Or is it almost always better to wait until FRA if you can manage it financially? Thanks to everyone who shared their knowledge here - this is exactly the kind of real-world insight that helps people make better decisions about their retirement planning!

Just a heads up - after you submit the SSA-521 form, you might still receive another payment or two while they're processing your request. Don't spend this money! You'll need to return these payments as well. When I did my withdrawal, I got an extra payment deposited even after submitting my form, and it created confusion with the total amount I needed to repay.

I went through this exact process about 18 months ago and want to share some practical tips. First, call SSA early in the morning (8am EST) for the best chance of getting through - I found Tuesday mornings worked best. When you submit Form SSA-521, also include a brief cover letter explaining your situation and your intent to reapply at FRA. One thing to watch out for: they'll send you a "Notice of Overpayment" after processing your withdrawal - don't panic! This is normal and just confirms the repayment amount. Also, if you're currently having taxes withheld from your SS benefits, make sure to adjust your tax planning since you'll get that money back when you file your return next year. The whole process took about 6-8 weeks for me, and restarting benefits at my FRA was seamless. Definitely worth it for the higher monthly payment!

This is such a helpful thread! I'm 64 and in a somewhat similar situation, though my husband and I have closer benefit amounts. Reading through everyone's experiences, I wanted to add one important point that hasn't been mentioned yet: if you're considering the strategy of taking survivor benefits early and switching to your own retirement benefit later, make sure you understand how delayed retirement credits work. If you wait until age 70 to claim your own retirement benefit, you can earn delayed retirement credits that increase your benefit by 8% per year from your FRA to age 70. So in your case, if your estimated benefit is $1,375 at FRA (let's say that's age 67), waiting until 70 could increase it to around $1,705. This might impact which switching strategy makes the most sense. Also, I second the recommendation about getting professional advice. The Social Security rules are so complex, and one wrong move can cost you thousands over your lifetime. The RSSA certification that Katherine mentioned is definitely something to look for in an advisor.

Welcome to everyone who's new to this discussion! This has been such an informative thread. I wanted to add one more important consideration that might help with your planning: the impact of working while receiving benefits. If you're planning to continue working after claiming Social Security (whether retirement or survivor benefits), be aware of the earnings test if you haven't reached your Full Retirement Age yet. For 2024, if you're under FRA, you can earn up to $22,320 without any benefit reduction. Above that, they reduce your benefits by $1 for every $2 you earn over the limit. However, this is particularly relevant to survivor benefit strategy because if you take survivor benefits early (say at 60) and continue working, the earnings test could significantly reduce or even eliminate your benefits temporarily. The good news is that once you reach FRA, there's no earnings limit, and they'll recalculate your benefit to give you credit for any months that were reduced due to the earnings test. This is another reason why the timing of when to claim which benefit becomes so strategic, especially if you're still working. It might make sense to delay claiming if you're earning above the threshold, or to time your claim with when you plan to reduce your work hours. Just wanted to make sure this factor was part of everyone's planning considerations!

Thanks everyone for the helpful responses! Based on all your advice, we're going to have my wife call SSA to set up an appointment. From what you're all saying, it sounds like she can technically apply now, but it might be easier to wait until a bit closer to January. Regarding the reduction for claiming early - we've calculated that and are okay with it. Even with the reduction, the extra income will help us more now than waiting for the full amount later. One last question - does anyone know if they'll need my information during her application process? Should I plan to be there with her for the appointment?

Great question about the timing! I went through this with my husband's benefits last year. Your wife can definitely apply now - the SSA agent told me they actually prefer to have spousal applications submitted at least 2-3 months before the benefits are supposed to start. This gives them time to process everything and catch any potential issues. When I applied for my spousal benefits, they had me bring: - Marriage certificate (certified copy) - My husband's SSN and claim number - My own birth certificate and ID - Last year's tax return The appointment took about 45 minutes and the agent was really thorough in explaining how the "deemed filing" rules work. Since your wife is under her FRA, she'll be required to file for both her own benefit AND the spousal benefit at the same time - she can't choose to delay one or the other. One tip: when she calls for the appointment, specifically mention it's for a "spousal benefit application" - they'll know to schedule extra time and have the right forms ready.

One last thing to consider: Even though you're reaching FRA in January 2025, your payment date will be determined by your birth date. If you were born on the 7th, your payment will typically arrive on the second Wednesday of each month. So your January 2025 benefit would be paid on Wednesday, February 12, 2025. Just something to keep in mind for your budgeting.

One thing I'd add that hasn't been mentioned - if you're currently receiving benefits from a former spouse's record or survivor benefits, those will automatically stop when you start receiving your own retirement benefits. The SSA should handle this transition automatically, but it's worth double-checking that your benefit estimate reflects your own work record and not any auxiliary benefits you might currently be receiving. Also, if you're married, your spouse may be eligible for spousal benefits on your record once you start receiving your own benefits, even if they haven't filed yet. Just another consideration for your overall retirement planning!