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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19821  
Subject: Re: Social Security, now or later? Date: 3/29/2001 6:39 AM
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Chris asks:

If I draw social security now, my DH could, I believe, switch over to drawing on a basis of my work record rather than his own.
Would he get the full 50%, or less since he has already drawn a little monthly on his own record? How much? Would he get more later if I defer drawing, or is his spousal amount fixed at my age 65 amount?
If I defer starting to take social security until I retire, how long would it take to come out even? If I defer drawing it, the slightly larger amount in 17 months would also be less highly taxed as taxable income will drop.

Where can I go to look for the rules on this?

The best place to get information is through the SSA itself. The website is chockablock full of useful information and FAQ. Ask them for a projection on your benefit to see what your breakeven point might be. They will give you the results of retiring now versus retiring later. Also be aware that DH may begin drawing on your record when you finally retire. But the benefit will still be based on HIS actual retirement age, so (if that was an early retirement) he will not get the full 50% of your benefit.

I suggest you contact the SSA to get the actual information from the source.

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