What Would Be The Best Filing Strategy For Us?

Mar 26 2017 - 7:15am

I am soon to be 66 (06/10/17) and I am still working and planning to work past 70. My wife is 64 and she is a housewife (never worked). We have not applied for SS benefits.We have been married for 40 yrs. I am aware that the law changed in 2016. What would be the best strategy going for applying and receiving benefits.

Hi,

My educated guess is that you would want to either a) wait until age 70 to file, or b) file when your wife turns age 66. Your wife won't be able to receive spousal benefits until you start drawing, so the latter option would make her eligible sooner. However, your benefit rate will be lower if you start drawing at age 68 instead of 70, and that lower rate would carry over to your wife's widow's rate if you die first.

You should probably run the maximization software available on this website before you apply. That way you can compare all of your filing options and decide for yourself which you are most comfortable with.

Best, Jerry