Understanding Social Security: ​Can I stop and restart Social Security benefits?

by | Oct 13, 2022 | Stock Market

Social Security benefits can have some flexibility in how you receive them, but the flexibility goes away after a while. It’s possible to start benefits at one age and then stop receiving the benefits, starting them up again later. But this is not always the best option, because it might not work the way you want it to. There are strict limitations on how this can be accomplished.

A recent reader email reads as follows: I took Social Security at 62 after the Great Recession to supplement my loss of income. ​ I have been working since then (over 65 no income limit). I have ​two​ projects this year that will put me back in a substantial income level. ​ ​Can I suspend ​my ​Social Security​ income benefits and earn more at a later restart…..say 76 or later? I am married and my wife (70) earns Social Security​ from my benefit. She worked for 15 years early on before we had children. Absolutely this can be done as the reader suggests. However, since his wife is receiving benefits based on his record, her benefit will be suspended at the same time while his own benefit is suspended. This rule came into effect with the Social Security update in 2015. Any time you suspend benefits on a primary record, all auxiliary benefits are suspended as well. The rule is that you can suspend benefits after ​full retirement age, and then restart them at any point in the future. During t …

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