What Is Our Best Filing Strategy?

Dec 8 2016 - 10:30am

My husband is 2 years younger than me and is the higher earner (I'm 49 and and he's 47). We would both like to retire between 62 and 65, but our full benefit age is 67. What is our best option to maximize the most out of social security?

Hi,

It's very hard to say at this point in time. Many things can change between now and when you become eligible for benefits. In general, though, Larry urges people to plan financially for the possibility of living to a maximum age of 100 or more. With that in mind, the best option for both of you may be to wait until age 70 to apply for Social Security benefits.

When you get closer to your first possible eligibility for Social Security benefits at age 62, you may want to consider running a reliable maximization software program such as the one available on this website.

Best, Jerry