In need of your expertise. My husband is 70 and has collected SS since his 70th birthday. I will be 65 on November 28 born in 1955. Should I start collecting my own benefits at 66+2months, FRA? They are half of what my husband collects. Is there some kind of spousal benefit I should look into? How can I maximise my benefit? I will not be able to wait until age 70 to file, as money is running out. Thank you, kindly.

Hi,

Since you were born after January 1 1954, you wouldn't be able to file just for spousal benefits without also being required to file for your own benefits at the same time. If you file for benefits effective with your full retirement age (FRA), what you'll be eligible for is the higher of your own primary insurance amount (PIA), or 50% of your husband's PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA).

You could potentially start drawing prior to FRA, but then you're monthly benefit amount would be reduced for age for as long as both you and your husband are living. But, regardless of when you start drawing your retirement/spousal benefits, if your husband dies before you you would then be eligible for a survivor benefit equal to his full benefit rate including the delayed retirement credits he earned by waiting until age 70 to start drawing his benefits. You wouldn't receive both your own benefit rate and your husband's rate as a widow, though, just the higher of the two amounts.

Your best option largely depends on your personal needs and preferences. You may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to compare the options available to you so that you can make an educated decision on when to start drawing your benefits.

Best, Jerry