I am turning 66 in June and my wife turning 66 in July. I don't think I've received an account statement for a couple of years and I don't know why? The last statement dated 3/10/15 indicated I would receive $ 2409/month at age 66 and my wife $921/month at age 66. Has it not increased since then?
I understand the 30% gain if we wait until age 70 to begin the process, and we do not need the money now. However, the law could change over these next few years to anything - they could move the age to 68 and till 72.? Do you suggest we start collecting or delay?

Hi,

Your rates may have increased some since your last statement, but probably not substantially.

It sounds like your best strategy would be for your wife to file for her benefits effective with either June or July, and for you to file a restricted application for spousal benefits only on her record at the same time. That would permit you to receive spousal benefits for roughly 4 years while still allowing your own rate to grow until age 70. You could then switch to your own record at age 70, at which time your wife could file for additional spousal benefits.

Note though that my opinion is based only on the limited information in your question, so your actual best strategy may be different. You should strongly consider using our maximization software in order to compare all of your options and determine the optimal filing strategy for you and your wife.

Best, Jerry