Night lights, Oahu, Hawaii.
David called Social Security to ask about the rules concerning our benefits. This is what he learned:
(1) Our accounts are separate and will be treated separately. In other words, there is no marriage penalty and therefore no cut-off if we reach a certain threshold in total benefits as a couple.
(2) Since I am David’s wife, my benefit will be 50% of his benefit at age 66. However, I presently receive more than that, so his turning 66 will have no effect on me unless his income increases substantially.
Isn’t this interesting? It always helps to clarify things over the telephone, because reading information via the Internet can be confusing.
David will try to work until he is 70, so he will receive $745 more in benefits per month than he would at age 66. The difference is quite remarkable, isn’t it?
Meanwhile, he worries that he might eventually need knee replacement surgery and will be on sick leave for an extended period of time. Who will do his work at the office? No one on the staff can do what he does, so he might be laid off and replaced. This is the worst case scenario.
Still hoping for a favorable outcome!