For people born in 1960 or later, the full retirement age will be 67 and the reduction for claiming early will be as follows: Age 62: 30 percent. Age 63: 25 percent. Age 64: 20 percent.

How does taking Social Security early affect spousal benefit?

Now, to answer your question: If you claim your Social Security retirement benefits early, this will not affect your wife’s dependents benefits, which are also called spousal retirement benefits. This is because at your death, your wife will be able to collect the same amount you were entitled to before you died.

When do you get your spouses Social Security benefits?

You will receive your full spouse’s benefit amount if you wait until you reach full retirement age to begin receiving benefits. You will also receive the full amount if you are caring for a child entitled to receive benefits on your spouse’s record who is younger than age 16 or disabled.

Can you file for Social Security at 62?

You can get that maximum if you first claim benefits at your own full retirement age; the amount is reduced if you file earlier. That includes if you file early for your retirement benefit — say, at 62, as in this scenario — and switch to spousal benefits later.

How much of my husband’s Social Security do I get?

Depending on your age upon claiming, spousal benefits can range from 32.5 percent to 50 percent of your husband’s or wife’s primary insurance amount (the retirement benefit to which he or she is entitled at full retirement age, or FRA). Regardless of the amount of the spousal benefit, it does not affect the amount of your mate’s retirement payment.

Is it good to take Social Security at 64?

Though there are plenty of good reasons to take your benefits at 64, it’s a move that could backfire if your savings are inadequate and you’re counting on Social Security to provide the bulk of your retirement income. More than 40% of households aged 55 to 64 have no retirement savings at all, according to the Economic Policy Institute.