My husband passed five years ago. I can collect widows benefits at 60. Is there a strategy that maximizing this process? For instance…can I collect window benefits then switch to my own benefits at max retirement age and that would then effectively be the highest rate possible if my income was in that bracket? Will my income be affected by collecting widow benefits or is it exempt at 60 should I collect. I don’t foresee remarrying.

Hi Larry

I am 63 years old and lost my first husband almost 10 years ago when he was only 54 years old . He had received disability benefits during the last year of his life. After his death I received survivors benefit. I remarried at age 57 and my survivors benefit of course stopped coming in. My current husband is 74 and has been collecting SS since age 65. Given his age and his health condition I will most likely lose him as well in the not too far future. I have to think practical.

My husband began receiving SSDI benefits at age 64, and those disability benefits automatically converted to retirement benefits at his full retirement age last fall. MaxiFi recommends he suspend his retirement benefit now and reinstate it at age 70. There doesn’t appear to be a way to tell MaxiFi that he started his benefits with SSDI. When it comes to the suspension strategy, does that detail matter? That’s my first question. My second question is what happens if he dies during the suspension?

This may be too complicated or long for a quick question. I will try.
My husband passed October 2019, he was 66 and not taking social security. My birthday was September 1st in 2019. He was very ill and asked me to go ahead and start my Social Security because he knew we needed to retire the mid September 2019. The Social Security person said it would be retroactive to August 1st since I had a September 1st birthday. So it was said into motion and October 6th he passed away. I had not yet received a social security check to my recollection that is.

I was born in 1955 and plan on taking retirement benefits in 2023. Is it best to wait until I am 68 or 68 and 2 mos?
Thank-you

Hi. There's not a definite answer to your question. Filing at age 68 & 2 months vs. age 68 would result in a higher permanent monthly benefit rate of roughly 1.33%, but your best option depends on a number of other variables. Each person's circumstances are unique, and the best filing strategy for each person depends on their individual set of circumstances.

Hi Larry, in your book on Social Security you firmly state to not conduct a cost benefit analysis on claiming early (before FRA), and that under all circumstances to delay claiming till age 70 (if personal circumstances allow), understanding that by delaying - each year after FRA, you are getting an 8% increase (a.k.a. return).
Can you tell me if this is still true with most, if not all, estimates for annualized returns on equities to be set at 4% or lower for the coming decade - and even worse for bonds.
Thank you

Can you confirm that my plan is valid: My wife earned a lot less than me over our lifetimes, so my plan is for her to claim HER benefit at 62 while I continue to work. Then when I claim at either 67 or later, she will step up to a spousal benefit of 1/2 mine. But I don't see any downside to her taking HER benefit for those 5 years+ until I claim mine. Correct?

Hi - thank you for prior answers. I'm trying to understand if this is correct, husband and wife are both FRA 67, husbands FRA PIA 2600/m, wife 1000/m. If he waits to 70 with DRC add to $3224 form him, and $1240 for wife. However, for her 50% on His PIA FRA is 1300, will she receive what is hers 1240 or will she brought into 1300? 1240 hers 60 residual spousal. Thank you

Have read your book 'Money Magic', contacted you about it. Just signed up for MaxiFi. What is your opinion of taking SS at FRA vs waiting until 70? Understand more $$ if waiting, live a longer life, etc. But getting $$ when younger/healthier/etc. Has anyone done an NPV on taking SS at FRA vs waiting until 70? Then investing SS benefit, getting modest returns (4-5%)? Spouse and I always planned on waiting until 70. Is that a good strategy? Mark