The Question
Can I draw on my ex-husband social security at 62 and still work? We were married for 25 years and I have not gotten remarried. I don’t plan on retiring until I am 67.
Yes, you can draw on your ex-husband’s Social Security benefits at age 62 while still working, but there are two potential reductions in benefits to be aware of:
- Early Claiming Reduction: If you claim benefits at 62, the amount will be reduced from what you would receive at your full retirement age. The maximum you can get is 50% of your ex-husband’s full retirement benefit at your full retirement age.
- Earnings Limit Reduction: If your income exceeds certain limits, your benefits will be further reduced. For 2024, the earnings limit is $21,240. If you earn more than this, Social Security will deduct $1 from your benefits for every $2 you earn above the limit.
Alternatively, you might consider drawing on your ex-husband’s Social Security benefits at age 65 or 67 and delaying your own benefits until age 70. To optimize your lifetime benefits, consult a financial advisor to explore different scenarios and make an informed decision.
Jing Zheng, CFP®, EA, MBA
Founder and Financial Planner
Neat Financial Planning, LLC
http://www.neatfp.com
(703) 468-1810
No question, answer, or discussion of any kind facilitated on this site is confidential or constitutes financial or legal advice. Questions answered are selected based on general consumer interest, and not all are addressed. Questions and answers may be displayed online and archived by Wealthtender. To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Wealthtender is not a client of these financial services providers. Learn more.