Hi Larry,
My wife and I are still working and planning to retire soon. She is 66 and I will soon turn 69. My goal was to wait until 70 so as to be entitled to the maximum allowable benefit and have my wife, at the same time file for a restricted spousal benefit. The intent is for her to take the spousal benefit until she turns 70. The unknown is whether social securitiy will have the funds to pay us for our patience (if everyone gets haircutted when the trust funds is empty, so be it). However, the more troubling unknown what sort of fix might Congress impose. Our finances are comfortable (not rich) such that in the event Congress elects to go with means testing, we would lose and be better off filing for benefits now. It's impossible to know the future, so if you were in ours shoes, what would you do given what we know and don't know? tks

Hi,

I can't predict the future, but if I were you I would not alter my Social Security plans based on concerns about the future funding of benefits nor possible amendments that Congress may make to the Social Security program in the future.

It sounds like your current plan may be the best strategy for you and your wife, but I can't say for sure without additional information. Your best strategy depends in large part on the comparative rates of your and your wife's Social Security retirement benefits. You may want to strongly consider using our software to fully compare your various options so that you can be sure to choose the best possible strategy for claiming your benefits.

Best, Jerry