Hi Larry,

I have decided to begin my social security benefits at my full retirement age of 66. My birthday is in September, and since social security instructs you to file 4 months prior to that, I did so recently, choosing September as the month to receive my first payment.

My wife and I turn 66 in October, 2016. My wife is not eligible, on her own, for Social Security benefits. According to the SSA website I would receive $2,617/month at age 66 if I filed for benefits. Based on my understanding of Spousal benefits my wife would receive $1,308/month. Together this would equal $47,100 annually or a total of $188,400 by the time we reach age 70. If we were to defer receiving benefits until we reach age 70 our annual amount would total $57,912 (my $3,518/month and my wife's $1,308/month) resulting in a $10,812 annual increase.

Hi Larry,