On Sep 5, 2:43?pm, Elderdude <art_te...[at]comcast.net> wrote:
- quote -

She can claim a spouse's benefit at anytime after she reaches 62 as
long as you are still alive. She can claim her own benefit at anytime
after she is 62. She will receive the HIGHER amount of the two at the
time she takes it. Social Security will advise her which amount is
higher at the time she takes it. She cannot get BOTH at the same time.
In all cases, the amount of payment will increase for every month she
waits beyond 62 to start receiving payment. The so called "full
retirement age" is just a point in time to this continuing monthly
increase in payments for waiting. The "full retirement age" does
effect monthly payments IF you are still working while collecting
social security and you have not reached full retirement age. Hope
this helps. Steve

As you may discern from my nickname, I am older than dirt. I retired 3
years ago when I turned 62. I have used Microsoft Money forever,
updating every year, (except for the 05 version,) and the Lifetime
planner for many years. We are fairly confident in our "Results"
except for a glitch which insists on projecting that my wife will get
a "spousal" Social Security benefit, at age 62, (as I have done,)
rather than wait until she turns 66 and can collects the full amount
she would be entitled to on her own. We were told by someone at
Microsoft several years ago, that this was a known problem. Upgrading
to Money 2007 did not fix the problem. I assume that the 08 version
will also not correct it.

I have been off-setting the amount Lifetime Planner automatically
"inserts" for those 5 years inspite of the fact that we have told it
that she will not begin collecting until she turns 66. My wife has now
joined me in retirement at age 56. We think we will be able to wait
ten years for the additional 30% she would get when she turns 66. (We
will re-examine the "take it early option" when she reaches 62.)

According to the Social Security folks, and a retirement forum I
monitor, my wife must either take the early retirement amount at 62,
or wait to apply later for increased benefits. She is not entitled to
the spouse's benefit in the intervening years while waiting to collect
her own later.

Any comments, suggestions, etc?