I am helping a relative who lost her husband when they were both 58. She is now 62, and has not filed for any SS benefits. His total life income was much, much higher (probably near the SS earning limit for most of his best 35 years). I understand that she can file for a widow benefit now (actually could have at age 60). My question is, is that the benefit she will get for the rest of her life, or can she allow his retirement benefit to grow until age 70, and then switch to the spousal benefit (which would be near the maximum SS benefit) when she is 70?
Is there a general guideline on how she should file? She has no earned income right now, but plenty of investment income (rental real estate), and savings (both pre-tax and post-tax), so her financial needs are being met, and she really does not need the income now. She is just trying to maximize her earnings to be able to do the most good with her money.
Is there a general guideline on how she should file? She has no earned income right now, but plenty of investment income (rental real estate), and savings (both pre-tax and post-tax), so her financial needs are being met, and she really does not need the income now. She is just trying to maximize her earnings to be able to do the most good with her money.
Statistics: Posted by ForestInvestor — Mon Aug 19, 2024 10:56 am — Replies 3 — Views 129