I am 66 my husband has 56. He is working full-time, and I am thinking of picking up some part-time work. The amount he is earning has put us in a bracket where I will be taxed heavily on the Social Security I have just applied for, as well, my Medicare including the drug supplement part is much higher. We are seriously thinking that divorcing will enable us to keep more of our money out of the hands of the government. I would like to return to work part time but at our current tax rate, it's not even worth it. My Social Security is $2300 per month my husbands annual salary is $230,000 per year. Well that's decent of course, but that is only very recent - past three years and for many years I was the major breadwinner. We are trying to optimize our savings and would like for him to continue to run his maximum, me collect my Social Security, and perhaps or an additional $50,000 per year working part time. Advice?

Hi,

If your concern is taxes, you may want to think about delaying the receipt of your benefits until age 70. Your monthly benefit rate could increase by as much as 32% if you defer collecting your Social Security retirement benefits until age 70.

Beyond that, it sounds like you and your husband may benefit from using our Maxifi software to help you with your retirement planning. For more information, refer to this link: https://maxifiplanner.com/retirement-planning-maxifi.

Best, Jerry