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. Fortunately, due to new targeted therapies he is still alive and doing well and is still working as a full professor at a university and doesn't plan to retire until he can no longer work. He will receive a pension through the state teacher retirement program. Now I feel like a made a huge mistake and am very confused what to do. I have bought and downloaded your software but I'm not sure how to approach the problem. Please help.

Hi,

Just for the record, full retirement age (FRA) for people born in 1951 is age 66, not 67.

Really, about the only option still available to you would be to suspend your benefits at FRA and resume them at age 70. That would result in a 32% increase in your benefit amount, but you would be giving up benefits for 4 years in return. Also, you would not even want to think about doing that if your own benefit amount at age 70 would be less than one-half of your husband's full retirement age benefit (PIA). In that case, you'd be giving up 4 years of benefits for nothing.

Fortunately, you've downloaded our software, which should be able to tell you whether or not the above strategy is advisable.

Best, Jerry