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Social Security survivors benefit

By Terry Savage on June 01, 2021 | Financial Planning / Retirement

My husband was born 01/31/50 & began collecting social security at 65, he receives 2,184 monthly. I was born 05/28/59 I am 62. I am considering collecting SS now which would be 1590.00 monthly. I would like to know if he dies before I do if I will be able to switch to survivors benefits, and if so what percentage of his benefit will I receive. Will my collecting at 62 reduce amount I may collect as a survivor later. Thank you!

Terry Says

First, don’t take your SS early! It permanently reduces your benefits significantly. Please wait until your full retirement age. That higher base amount will also be the base for future inflation increases.

Social Security allows you to claim both a retirement and a survivor benefit at the same time, but the two won’t be added together to produce a bigger payment; you will receive the higher of the two amounts. You would be, in effect, simply claiming the bigger benefit.
And since as a widow you will only get half of his benefit OR your own low benefit, you lose both ways if you take your SS now!!

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