Why turning 60 is a BIG deal for a Widow
I turned 60 this year and it was kind of a big deal. You see, I’ve been a widow since 2013. Alone and raising 2 grandchildren, believe it or not, I did not qualify for social security since I was only 52 when my husband passed.
I was working, so I didn’t really plan on taking the benefit. However after losing my job earlier this year, and exhausting my unemployment benefits, I decided to look into it.
I had called Social Security to schedule an appointment about collecting on my deceased husband’s social security and I was given a phone appointment in a few months. Social Security called promptly at the designated time.
The woman I spoke to was extremely nice and helpful and I was able to schedule my benefits to start. The process was actually quite easy.
Who qualifies for Social Security spousal death benefits?
I pulled the following requirements from social security’s website:
- Be at least 60 years old.
- Be the widow or widower of a fully insured worker.
- Have been married at least 9 months to the deceased.
- Not be entitled to an equal or higher Social Security retirement benefit based on your own work.
I was also informed that you could not have re-married (before age 60) to collect on your previous spouses social security.
HOW MUCH IS THE BENEFIT?
If you claim survivor benefits between age 60 and your full retirement age, you will receive between 71.5 percent and 99 percent of the deceased’s benefit. The percentage gets higher the older you are when you claim
Since I am not at full retirement age, my benefit will be reduced. Still it was slightly more than I expected. So, I plan to take this benefit and work part time. I figure I will make about $15,000 a year less than when I worked. To me, that seems manageable. I guess I’ll find out.
What is the maximum earnings for Social Security in 2021?
In 2021, if you’re under full retirement age, the annual earnings limit is $18,960.
Social Security informed me that I had up to a year to change my mind, and all I would have to do was pay back the money, if I decided to stop collecting and go back to work.
Switch over to my Social Security in a few years
I will collect on my husband’s social security for a few years, until it makes more sense to collect on my own since it will be more money.
Health Insurance
I will not be eligible for medicare until I am 65. Currently am purchasing my own discounted health insurance.
Life throws us curve balls
Collecting social security at age 60, wasn’t really what I was planning. Of course, I wasn’t planning on being such a young widow either. Still it’s a little scary, as it is a big pay difference. I suppose that is why Social Security gives you a year to decide if you really want to collect on your social security now.
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