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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Is This My Best Filing Strategy?
Best filing strategy? My birthday 14Jan1953, my wife's birthday 03Sep1952. My PIA is 2558/month, my wife's PIA is 465/month. My wife is no longer in the workforce; I plan on retiring early in 2020. I believe our best strategy is:
- my wife files for her 465 / month to commence on 01 Oct 2018 (the month after her 66th birthday)
- I file and restrict my application to a spousal benefit to commence on 01 Feb 2019 (the month after my 66th birthday), which should amount to 1/2 of my wife's 465 / month
- I file for my own benefit to commence 01 Feb 2023 (the month after my 70th birthday), which should amount to 3408 / month, as per the Social Security web site.
- my wife files for her spousal benefit to commence on 01 Feb 2023, which should be 1/2 of my PIA of 2558 / month.
Is there a better way to maximize the Social Security benefits?
You should file for benefits to begin in the month of your birthdays, i.e. Sep 2018, Jan 2019, and Jan 2023, not 1 month after your birthdays. Otherwise, this is your best strategy.
Best,
Mike
Category:
Posted:
July 3, 2016