How do i maximize our social security income when i am 65 and my wife is 51?

Hi,

The best filing strategy for each person or couple depends on numerous factors, so I would need much more information in order to help you. The best plan would probably be for you to run the maximization software available on this website. It will ask you to enter all of the information needed to determine your best filing strategy.

Best, Jerry

Hello Larry. First I want to thank you for all of the terrific information you have provided over the years via the internet. My questions: My husband receives Disability payments. He will be FRA in May 2020. I will be FRA in October 2017. I wish to delay receiving my RB until my age 70. (I am the higher earner.) I was born in 1951, my husband in May 1954.

Larry, Your software recommends that my wife start early retirement benefits this year when I turn 66 (she will be 62.5) and that I collect spousal benefits on her earnings until I reach age 70 (I'm the higher earner). At that point, it recommends that I begin collecting on my own earnings and she stops her benefits for 3.5 years at age 66.5 until she reaches age 70. Is this still allowed under the new laws? She missed all of the cut off dates. When she resumes her benefit, will it be at an increased amount?

I was married to my first husband for more than 10 years then divorced 1971. I remarried for 18 years until my husband died in 2001. I was age 56 and collected on my deceased husband's reduced benefit (because he had an offset pension that I was unable to collect from because of option he chose at retirement). Because my benefit was more I switched to my benefit at age 62. NO ONE TOLD ME I COULD SUSPEND MY BENEFIT AND COLLECT MY FIRST HUSBAND'S BENEFIT UNTIL MY FULL RETIREMENT AGE THEN SWITCH TO MY OWN AND RECEIVE MY FULL BENEFIT.

Hi VP-Got a quick question for you that I think I know the answer but I want to confirm. My wife is five years older than me. If she filed for her own SS at her FRA, can she switch to spousal benefit when I apply at either 66/10 or 70? I think congress might have closed this "loophole" but there are only about five million rules, I could be wrong.

Thank you.

Hi,

I turn 62 next June (I am male) . I have 2 young children (started with the kid thing late in life) who will be 2 and 4 when I turn 62. The conventional wisdom is to wait until 70 to collect social security but, in my case, I believe I double my benefits until my children are 18. So, in my case, I would be getting the child benefits for at least 14 years. Wouldn't it make sense to take benefits as early as possible? Thank you.

Hi,

My wife is 61 and I am 60. My wife is planning on taking Social Security at 62. I want to take Social Security (SS) at 66 yrs and 2 months (full retirement age). Can she switch from her own SS benefits to spousal benefits when I take SS ?Spousal benefits are higher than her own individual SS. If I wait to 70 years of age, can she switch then to spousal benefits?

Hi,

My wife's FRA (66) benefit is $900. Her spousal benefit on my FRA amount is $1300. She is one year older than me. I plan to wait until 70 to file. If she files for her benefit at FRA, would she later be able to get her spousal benefit when I file? I thought she could do that and I understand it would be only the larger amount ($1300) and not both. Gotcha #2 from your book seems to indicate she could not get the spousal benefit once she has filed for her own.

thanks

Hi,

I am going to turn 64 on Oct. 12, 2016. I am still employed and I make roughly $36,000 per year. My husband retired when he was 62 and he will turn 65 in Nov. , 2016. When should I star collection my SS benefits? Are there any extra $ I can get from my husbands SS?
I'm so confused and I want to maximize my benefits. Thank you

Hi,

I had planned on taking SS benefits when I reached full retirement age (born in 1951 so that's 67), but 2-1/2 years ago my husband was diagnosed with stage IV lung cancer and the Social Security representative on the phone convinced me that I needed to file for benefits right away since I would need the money before my husband died, which at the time was within months. He was born in 1944 and paid into SS so he is entitled full benefits.