For any of you other old farts I reached my full retirement age 66 & 8 mo. Monday. I'm still working and will start collecting. We have a 15 year old freshman, an older in college, I like my job and am in good health. Plus my wife just turned 55 (not so subtle brag) and I'm making more these days. Anyway, a little known benefit is if you reach your FRA and start collecting, any high school age child you may have is elegible for 1/2 of your benefits until they reach the age of 18, even if you are still working. It can be 19 but you would have to show he is still a h.s. student. The SS Dept considers you retired once you start collecting at your FRA. It doesn't affect my benefits at all. So I have us both set up to receive our first payment the 2nd Wed of each month starting in November. They don't monitor it closely but his benefits have to be used for his needs, which can be schooling, car, clothes etc. They just don't want parents or guardians using it themselves.
I first learned about this at a seminar my wife and I attended. I applied with the local office via phone call. The lady was great, patient and helpful. She did mention she was going to ask if I had h. s. age childred, but not sure they all would. Some of you know this but I also remember if husband and wife are both working and reach FRA, one can start collecting the other's. I think there were some limitations such as the other's benefits freeze from growing each year but not sure.
Also I don't get all the talk about SS running out in the future. All they need to do is raise the income level that Social Security is taxed. Or instead of spending trillions on other countrie spend on those you took it from. Hope this last paragraph doesn't get this post moved to Politics.
I first learned about this at a seminar my wife and I attended. I applied with the local office via phone call. The lady was great, patient and helpful. She did mention she was going to ask if I had h. s. age childred, but not sure they all would. Some of you know this but I also remember if husband and wife are both working and reach FRA, one can start collecting the other's. I think there were some limitations such as the other's benefits freeze from growing each year but not sure.
Also I don't get all the talk about SS running out in the future. All they need to do is raise the income level that Social Security is taxed. Or instead of spending trillions on other countrie spend on those you took it from. Hope this last paragraph doesn't get this post moved to Politics.
