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exploring the essentials of money

Q:

i plan on delaying my socsec benefits until i am 70 meanwhile my wife started drawing at the age of 62 i understand that i can start drawing a spousal benefit when i turn 66 my full retirement age this spousal benefit is it 50 of what she currently is drawing a reduced amount because she started at age 62 or is it 50 of what she would have been drawing at full retirement age 66 note she is currently only 65 and i will be 66 in october

February 07 2012 / from: JIM / 1 Expert Answers

Topic: Social Security and Medicare

A:
Answered by Dan Candura

Your spousal benefit will be 50% of what your wife is now collecting.

February 07 2012

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