My wife is 66 and has been receiving $1086 /month of SS benefits for over 10 yrs. due to a disability. I am 63 still working and would receive $1461/ month if I retired at 63. What strategies can we apply that would benefit us?

Hi,

It doesn't sound like either you or your wife would ever be able to draw spousal benefits. And since you wife is already drawing her benefits, your options pretty much come down to deciding when you should take your benefits. That's a personal decision, but it may be best to wait until age 70 to do so if you can afford to wait. Waiting until age 70 to start drawing your benefits would assure you of receiving your highest possible monthly rate, and that rate would also apply in calculating your wife's widow's rate should you die first.

You may want to consider using our maximization software to compare all of your options and determine your best filing strategy.

Best, Jerry