Hi Larry
My wife and I moved to USA in 2003. I worked and qualified for Social Security based on 16 years of work record. I started taking Social security after turning 70 years in February 2020. My wife is 6 years younger and continues to work for the Federal Govt and currently makes twice as much as I do. Though she qualified to receive SS in 2022 on reaching full retirement age, she prefers to wait till 70 before taking SS. Could you please guide us if this is a right decision or if we are leaving money on the table. Your expert advice on optimizing our Social security payout is deeply appreciated. Thank you.

Hi. Since your wife was apparently born after January 1 1954, she doesn't have the option to apply for spousal benefits without being forced to claim her own retirement benefits at the same time. Therefore, waiting until age 70 to maximize her monthly benefit rate may be your wife's best option, especially if her potential survivor benefit rate on your account would be lower than her own benefit rate.

Rather than guessing, though, I think you and your wife should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of her options so that you make an educated decision on the filing strategy that you believe would be the best strategy for maximizing her benefits.

Best, Jerry