Thanks, Larry I am 68 and my wife is 65. We had an analysis done back in 2017 by a local planner and the strategy was for my wife to file for her retirement and mine would be a restricted amount with the plan of waiting until 70. When the analysis was done, my intention was to continue working until 70, but because my health has declined I'm now only able to work part time. So, my question is, is it still worth it financially to hold out till 70 or would it now make more sense to take my full amount? Thanks again!

Hi,

I can't decide that for you, but I can tell you that whether you stop working or not your Social Security benefit rate would continue to grow by at least 8% per year until you reach age 70 as long as you don't claim your benefits before then. Furthermore, assuming that your benefit rate is higher than your wife's rate, waiting until age 70 to switch to your own record would provide your wife with a higher survivor rate if you die before her.

You may want to consider using our software (https://maximizemysocialsecurity.com/purchase) to do a comparative analysis of your options so that you can decide when you feel it would be optimal for you to claim your benefits.

Best, Jerry