I took my social security at 62. I am now 66. I am reading your book. I have been told by 3 people at social security I cannot suspend my social security payment because I took it at 62. My wife is 63 and has not filed for anything yet. If she does not claim her benefit we have to take the money from our retirement IRA where we lose the investment and have to pay taxes. Is there anything I can do to improve my benefits? Should my wife take her benefits?

Hi,

You can choose to voluntarily suspend your retirement benefits between full retirement age and age 70 regardless of when you started drawing them. If you have to prove it to the people at your Social Security office, show them this reference from their operations manual: https://secure.ssa.gov/apps10/poms.nsf/lnx/0202409110. You may also want to submit your request in writing and ask them for a date stamped copy so that you will have proof of your request.

Whether or not your wife should start drawing her benefits early depends on a number variables. She may want to consider using the maximization software available on this website to compare her filing options and determine her best strategy. You may also want to read the following article for Larry's thoughts on taking Social Security early vs. drawing on your investments: https://www.forbes.com/sites/kotlikoff/2014/03/26/economic-magic-pulling....

Best, Jerry