My wife and I are both 66. She has filed for SS benefits of $1,700/month. I am waiting until I am 70 to get $3,700. When she filed, the SS person told her I can get half her benefit now ($850). Can I do so without impacting the benefit I will receive when I turn 70? This seems like one of those too good to be true topics. There is over $1,200 difference in my claiming at 70 versus now, so a lot at risk. What's the catch?

Hi,

There isn't really a catch. Since you were born before 1954, as long as you are full retirement age (FRA) or older and your wife is drawing her benefits you can apply just for spousal benefits only without adversely affecting your own age 70 retirement rate. To be safe, though, you might want to use our maximization software to make sure that you and your wife are choosing the best possible strategy.

Best, Jerry