What Is The Best Plan For Us?

Apr 19 2017 - 6:14am

My wife is 65 and I am 64. She has advanced MS and is on SSID have been receiving a little over 9000/year for several years. She worked only part time while I had a good paying job by whole career - so I have a MUCH higher SSI benefit coming in the future (I have not initiated SSI yet). Our financial advisor says we should start SSI when I reach 67. Can my wife increase her SS benefit payments now by claiming half of my SSI - even though I have not initiated SSI payments yet? Also, she was married to an airline pilot previously who has maximum SSI payments coming. He is now age 67. What is the best plan for us?

Hi,

I'm sorry to hear about your wife's illness.

If your wife is receiving Social Security disability, the best strategy may be for you to apply just for spousal benefits on her record at age 66, and allow your own benefit rate to grow until age 70. Your wife could then file for an excess spousal benefit on your record when you file for your retirement benefits at age 70.

Your wife cannot get spousal benefits until you start drawing on your own record, and she can't get divorced spousal benefits on a former spouse's record while she is married to you.

You should strongly consider running the maximization software available on this website in order to explore all of your filing options and determine the best overall strategy for you and your wife.

Best, Jerry