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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
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My wife and I are both 63. My wife is retired. We were

Customer Question

My wife and I are both 63.
My wife is retired.
We were planning to wait until I am 66 and do the file and suspend so she could collect under the spousal benefit.
With the new budget I realize we can not wait until we reach 66 but can we still do it within the next 6 months and still get some sort of benefit?
Submitted: 1 year ago.
Category: Social Security
Expert:  PDtax replied 1 year ago.

Hi from Just Answer. I'm PDtax, and will assist.

Expert:  PDtax replied 1 year ago.

File and suspend is not available until one of you has reached full retirement age (FRA). If you want some benefits now, and you are both eligible for benefits, I might suggest that your wife claim her benefits now. Here's why:

Your benefits can continue to grow, and she can claim a spousal benefit once you claim (if that increases her payout).

If you predecease, she would be eligible for a widow's benefit based on your full Social Security benefit.

Expert:  PDtax replied 1 year ago.

If other sources of funds are available until you reach FRA, that might be a better option. Drawing on other retirement assets, even borrowed funds against your home or other strategy would allow her benefit to increase at 7% or so each year you can defer her claiming benefits.

Expert:  PDtax replied 1 year ago.

Thanks for asking your question at Just Answer. Positive feedback rating my response will credit me with assisting, and close out your question. I'm PDtax.