Timing the medical and interview

[seekingthetruth 1,246]

13 minutes ago, Stein said:

So, the child get benefits if I start drawing at 62?

Yes, so your child will be 7 when you are 62, and will be able to get SS until they are 18 or 19.

 

However, you should do some analysis on what age is better to take the SS.  Each kid can get 50% of you benefit.  You only have (so far!) one kid.  I have 2 so that basically doubled my age 62 benefit and made the "what age to take SS" decision a no brainer for me.

 

You might want to get to work on the second kid as soon as possible!  😁

[seekingthetruth 1,246]

6 minutes ago, Stein said:

So reading through the link above 

https://www.ssa.gov/pubs/EN-05-10085.pdf

the child can receive 50% of the max benefit.  Would that be 50% of my max Age 67 benefit?  That would be an extra $2200?  And my wife could get the same as the caregiver?  I think that's where the benefits could be capped at 150-180% of the benefit.  Well, I have seven years to figure that one out.

Ah, yes, I forgot about the caregiver benefit for your wife.  So you don't have to rush on having the second kid!  😆

 

There is a formula for the family maximum that I used when I was planning for SS.  I did it and it was fairly close to what the actual ended up at.  They used to put the family max on the social security statements but I can't find it any more.

[Stein 276]

43 minutes ago, seekingthetruth said:

 

 

You might want to get to work on the second kid as soon as possible!  😁

Oh gawd no.  I'm already sweating one at 55.  I gave her what she wanted and I'm getting snipped.!