Hi Larry

My wife is 62, and I am 59. A year ago, she was disgnosed with stage-4 lung cancer, and we are doing what we can to keep her in the game.

Financially, we are fortunate, so do not need the income flow from Social Security right now.

However, like everyone, we would like to maximize our years of hard work.

Is it better for us to try to begin her benefits ASAP, or is there a longer term benefit to myself if we were to wait?

It seems confusing? Could we get cash flow now for a couple years, and then if she was to pass, could I hold off until 70 to get the maximum? Have we lost out by not filing yet?

I am generally pretty good with these kinds of reviews but SS is confusing!

Thanks

Don

Hi Don. I'm sorry to hear about your wife's diagnosis. It sounds like your wife should at least apply now for Social Security disability (SSDI) benefits. SSDI benefits aren't reduced for age, so if your wife qualifies she'd get the same benefit rate that she'd get if she applied for her retirement benefits at her full retirement age (FRA).

Your wife could also apply for reduced Social Security retirement benefits, but her benefit rate would be permanently reduced for age for any months that she collects reduced benefits unless she later is determined to qualify for SSDI benefits for those months. And, any such reduction could limit the benefit amount that you could potentially collect as a survivor.

The best filing strategy for you and your wife depends on number of different factors, such as your comparative benefit rates. You and your wife should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of your various options so that you can determine the best overall strategy for maximizing your benefits.

Best, Jerry