I am 55 (dob 11/10//1960). My husband died two years ago. We were married 25 years. We both worked our entire lives, but I was the higher earner the last 5 years by quite a bit. I want to quit working at 60 and collect a widow benefit. At what age should I collect my own to maximize it?

Hi,

Your full retirement age (FRA) for widow's benefits is 66 & 8 months, and 67 for retirement benefits on your own account. Depending on which benefit is higher, your best options are likely to be to either:
1) File for reduced widow's benefits at age 60, then on your own account at age 70; or,
2) File for reduced benefits on your own account at age 62, then for unreduced widow's benefits at age 66 & 8 months.

By the way, I'm assuming that your husband did not receive reduced Social Security benefits prior to his death. If he did, your maximum widow's benefit would occur prior to your full retirement age, and would change option #2 above.

It's quite possible that your widow's benefit will be higher than your own retirement benefit, even if you were the higher earner in recent years. Your benefit amount will be based on an average your best 35 years of inflation adjusted earnings, whereas your widow's benefit will be based on the best 35 years, or fewer, of your husband's inflation adjusted earnings. If your husband died prior to age 62, fewer than 35 years would be used, resulting in a higher average figure.

You may want to consider running the maximization software available on this website in order to sort out your best possible option.

Best, Jerry