US Citizens on Social Security with children

I plan on retiring when I'm 62 with two daughters that will 14 and 7 years old, my wife will be 41. I am sure we will get more because of children under age , but does anyone know the formula?

No you won't! You will get the min. ssa! Kids and wife will get a percentage if you die!! Be smart and wait until at least 67 so you can get highest percentage! I went through all of this a few years back and I am so happy I waited!

go online to ssa.gov
create a mysocialsecurity account!
You can then track everything about your current social security! It will provide you with all the details

how old are you now? Do you plan on working after you get social security? I'm 72 and I still work and every year my monthly amount increases because I'm still paying into ssa. The increase from what i was getting at 67 until now is more then $600 a month! Think about the future!

Thank you for you input Lasvegan. I will be 60 in January. I tried downloading the info from ssa.gov but my computer must be to old. No disrespect but in the future we're all dead. I want to enjoy my last years . Everyone's situation is different.  Also you do get extra if your kids are under 18 or till 19 years and 2 months if still a full time High school student, up to 1.8 times more. Also others might benefit from this discussion.

Hi Lat61
You're so right! The children do qualify for that! My ex told me that we got $98 for and $235 for two school kids! Also home schooling counts if you keep daily records of their schooling! Again my apologizes for missing that big tidbit!!
Also you can only log in on the ssa.gov sight for My SocialSecurity account after %;00 am EST! Keep trying because it also helps protect your ssa info if you have the account with password

Afteer 5:00am EST

Lat61 :

I plan on retiring when I'm 62 with two daughters that will 14 and 7 years old, my wife will be 41.

Did your wife work 10 years (40 quarters)?  If she is close it might help her to reach ten years employment so when she turns 62 she can collect on her own even if you are still alive, also qualifies her for Medicare at age 65.

Yes she will have around 12 years by 2022. Also children can qualify if step children or adopted.  Disabled children can qualify past the age of 18 for ss  benefits.

This might surprise you. I looked into this recently but please check with SSA. This is what I understand.

If those kids have their own social security number and the social security administration shows that they are your children. They can be biological, adopted or even step children. The formula is:

1 child = 50% of your full retirement  [Example: Full retirement at 66 or 67 = $2000. This means $1000 if one kid]
Max benefits can be up to 150 -180%  of full retirement benefits

Key to this is. They only start when you start taking your benefits. Available till the kid is 18.

https://www.youtube.com/watch?v=YaLswM6gAec

do your research. Hope this helps

search on youtube:  Social Security benefits for dependents

Thanks rayj , Great info on YouTube. Not only will child get 50% of your Social Security with  out reducing the amount of  your check. Also your younger wife can get a check if taking care of child under the age of 16. For a total family max amount of 1.8 times original retiree amount. Also she said if you retire at 62 your child's benefit is based on you full retirement age of 66 or 67. Then when you reach full retirement age you can suspend your SS check to earn extra for later years, but your child will still receive theirs till of age. The lady in YouTube video refers to children's checks as Viagra College Fund. :)

You have to itemize the expenses every year for each child. Find out what qualifies. Seems like they want the unused portion back. If the rest can be put in a qualified College Fund, it would be great.
Google "How Is a Child’s SSI Payment Supposed to Be Spent"

Social Security benefits are different then SSI.

For those reading this thread I have done some additional research. You and wife both have to be USA residents for at least 5 years for any biological children born in the Philippines to be eligible for Social Security benefits. Step children and adopted children acquired after moving to the Philippines do not qualify. But how I understand it now is a Family can get up to 1.8 time max of primary earners SS retirement check. If you retire early at 62 years of age minor children checks are based on your full retirement age of 66 or 67 depending on primary earners birth date. So If you get a check for 1,000 USD at 62 it would of been  1,333 USD at say 67. Your minor child would receive 667 USD for a family max of 2067 USD. 1,000 + 667 + 400 =2067 USD.Children qualify till 18 or 19 years 2 months if still in Highschool. If you have a minor child 16 years of age or younger, your wife can qualify for a check. Also you can suspend your early retirement  check at  full retirement age (66-67) and then work till 70 years of age to boost your potential Social Security earnings. This suspending of your check will have no effect on your minor children's checks. They would still receive them while you boost your future check amount.

Different strokes for different folks. I took mine at 62 and I'm glad I did. Your quality of life changes health wise after 62. So do things while you still can before you're too old. Don't be trapped by old age especially trying to squeeze that last dollar out of ss. The reduction is 25%, depending on your age you will have to wait 66 years & 2 months for full benefits. If you take it at 62 the break even point I believe is 78. Will you live to be 78? hahahaha.

If you take it at 62 the most important part is when your birthday is. You can earn $17,600 a year while collecting at 62. Each $2 earned above $17,600, you have to give back $1. This is why it's important to time it right. The year you reached 62 you may have earned more than $17,600 than you owe them money.  Once you reach full age to collect, you can earn more than the $17,600 restriction. So if you worked the year you turned 62, it's best to wait and start collecting at the beginning of the next year.

There is a grace period before you collect the first check, so the first check is not the following month on your birthday. My advice to you is to visit the ss office so you can plan ahead. The day you receive your check varies. My check comes on the third Wednesday after the 15th of the month. Some months I have a four week wait between checks, some months 5 weeks. So if the third Wednesday of the month is the 14th, I have to wait till the 21st for my check.

What future????? Your 72! Do you ever want to enjoy life? Or is work your enjoyment?

No extra money for children unless they are under 18 and you pass away ; once you are on Medicare they take the Medicare Part B premium out of your Social Security. I retired at full retirement age

Birthday 1-10 second Wednesday deposit;
11-20 third Wednesday, 21st to end of month fourth Wednesday ; payroll taxes you pay is for Medicare Part A ( Hospital) Part B ( Doctor) Retired Military must pay Part B premiums to remain in Tricare for Life

Arty5987,

The advantage of taking it early at 62 is that physically your still healthy and strong enough to do things to continue all the activities you like.

I can’t find any information about BOTH parents needing citizenship with 5 years residency.  I searched SS Website and it only requires that the SS recipient be a citizen (obviously if you are receiving then you would meet the residency requirement).

www.socialsecurity.gov/international/payments  outsideUS.html

I know.. that’s why I retired at 64. But not 62.  That was my whole point. Did you misunderstand what I originally said? Why wait till you can’t walk anymore???? The guy is still working at 72. Why not work till your 80, 85?   You can enjoy your retirement in a wheel chair

Arty5987

Yup the guy should work until he dies, then his family could get a $500 death benefit.

Many many years ago I was divorced from my first wife and I had custody of our two kids. One day SSDI checks arrive for my two kids. I took the checks to the SS office and said there must be a mistake and wanted to return these checks.

They said there was no mistake & I cannot return the checks. I explained to them, I am the father, I support them and they live with me.

They said my ex wife applied for and received SSDI and minor children will get support checks. The kids were thrilled, the checks were bigger than their allowance.

Now those kids are adults with children of their own. SS & SSDI system is broken. The system is full of fraud costing billions of billions dollars each year.

If you are a drug addict or alcoholic you can be approved for SSDI.

MinimalistJourneyman :

I can’t find any information about BOTH parents needing citizenship with 5 years residency.  I searched SS Website and it only requires that the SS recipient be a citizen (obviously if you are receiving then you would meet the residency requirement).

Step one.. Google children of reired receiving social security abroad
Step two click on Social Security benefits US Citizens Outside United States
Step 3 Click on link that I provided you last time, it works here :) ( In blue)
Step 4 answer yes , no questions, after 4 questions click on click here ( In blue)

Thank you so much LAT61 for your efforts...however your instructions only lead me to a Title II social security benefits tool.  This is for disability.  I did however by following your steps find an extensive PDF on receiving benefits outside the US from SSA that does mention the issue on residency. 

Page 14:  “A child who has not lived in the United States for five years can meet the five- year residency requirement if the parent who is the worker, and the other parent, have both lived in the United States for five years. However, we will not pay children adopted outside the United States while they reside outside the United States, even if the child meets the residency requirement.”

So thank you for helping me on this.  It may well change my decision to eventually bring my family over for my wife to get citizenship.  This additional SS income for a dependent child  (which Btw I was completely unaware of) may well be a big enough incentive to bite the bullet for 3-4 years.    It still leaves unanswered if this residency requirement is moot if the child resides in the US...I think it would logically...as no child when born has 5 years residency.

Thanks again!

Thank you so much LAT61 for your efforts...however your instructions only lead me to a Title II social security benefits tool.  This is for disability.  I did however by following your steps find an extensive PDF on receiving benefits outside the US from SSA that does mention the issue on residency. 

https://www.ssa.gov/pubs/EN-05-10137.pdf

Page 14:  “A child who has not lived in the United States for five years can meet the five- year residency requirement if the parent who is the worker, and the other parent, have both lived in the United States for five years. However, we will not pay children adopted outside the United States while they reside outside the United States, even if the child meets the residency requirement.”

So thank you for helping me on this.  It may well change my decision to eventually bring my family over for my wife to get citizenship.  This additional SS income for a dependent child  (which Btw I was completely unaware of) may well be a big enough incentive to bite the bullet for 3-4 years.    It still leaves unanswered if this residency requirement is moot if the child resides in the US...I think it would logically...as no child when born has 5 years residency.

Thanks again!

If you retire at 62 you get 75% of the benefit and that is the best decision of the age of your kids the oldest will get 75% of your pension and the younger 1 50 % if they stay in school till the age of 18 and it finishes when they turn 19..then the younger 1 will get the 75%...most moron's that reply you don't have kids and have no idea about your questions..To get the real answers email the embassy in manila...this is the only country outside the USA that has a SS section...If your coming to Davao? We got everything ..how to bypass govt. BS and places to live etc. etc.

Here are the formulas.  To see what your Social Security estimates are at 62, 67 and 70   and Maximum Family benefits
                                  Theses are the Social Security Rules for Expats                                                                Both husband and wife  need 5 year USA residency and child has to be genetically theirs. Also at 67 Husband can suspend his benefits till age 70 to build his benefits back up to an higher amount  without stopping any qualified benefits for children and or wife, they still collect when he suspends. Then at 70 reapply and receive an higher amount. This higher amount will also help the wife when she applies for Social Security on her own qualifications at age 62 or later.
These benefits are for American citizens who can receive Social Security with a younger wife and unmarried children under 18 years of age or up to 19 years 2months if still in High School. Any children under 16 qualifies the wife to also collect as caregiver. Also older disabled children can qualify if disability happened before age 22.

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