Dear Larry,

My husband was born June 22, 1951 and plans to work until 70, though he will cut down to part time hours next summer. I was born January 1, 1953 and lost my job three years ago. Presently, SS reports state he will collect $3571.00 at 70 and has a maximum family benefit of $4641.00. My amount has dropped to $1780.00 at 70 from $2421.00 when I stopped working.

Just read your updated book and am more confused about when and how I should claim SS. I'd always thought I would claim on my SS as the $2421.00 amount added to my husbands was more than his maximum family benefit. Now that my amount is dropping, it looks like I should draw on his....but when? I was already 62 when the new law was snuck in but my husband won’t be 66 until June 22, 2017. Appreciate any help to clarify this for us. Thank you.

Shiryl

Dear Shiryl,

Your husband was too young to file and suspend. One option is for you to collect early -- when your husband reaches 66. This will permit him to collect just his spousal benefit until he's 70 after which he can collect his age 70 benefit. At this point you would suspend your retirement benefit and restart it again at 70.

Another option is for him to start collecting his retirement benefit when you reach 66. In this case you can collect a full spousal benefit for 4 years and then take your own maximum retirement benefit.

Please run our $40 program, Maximize My Social Security, to determine what's optimal. What I suggested is my best guess for what the program, which is far smarter than me, will tell you to do.

best, Larry