What Would My Best Strategy Be?

Oct 14 2020 - 8:11am

I am turning 65 on March 1st
I was married over 10 years and divorced over 2years . I have not yet started my social security benefits. I am not remarried. Trying to find best strategy for my social security benefits. Im still working, and at full retirement I collect $985 . . I don’t know ex spouse retired benefits, she’s over 62 urs old , we were married in Florida and both live in Florida currently.
Thank you


As long as your ex-spouse is living, whenever you apply for either your own Social Security retirement benefits or divorced spousal benefits you'll be required to file for both benefits at the same time. You can't file for divorced spousal benefits without also filing for your own benefits at the same time, because only people born prior to January 2 1954 are permitted to do that.

Your benefit rate if you file for your benefits at full retirement age (FRA) will be equal to the higher of a) your own primary insurance amount (PIA), or b) 50% of your ex-spouse's PIA. If you start drawing prior to FRA your benefit rate would be reduced for age, but if you wait past FRA to start collecting then delayed retirement credits would be added to your PIA.

Your best option depends largely on your individual circumstances, so you may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry