Ask Larry

I just turned 70 and applied on line based on my own earnings record. My husband filed in October 2016 at age 70 and is still working. SS contacted me and explained 3 options: 1) file on my record at age 70, receive $3473 monthly; 2) file on my record at age 70, receive $3473, plus 6 months spousal benefit of $8,000+; or 3) receive reduced benefit of $3368 based on age 691/2 retroactive filing age and lump sum spousal benefit of $23, 084. Option 2 is attractive, but seems too good to be true; what would the downside be, since I would receive my age 70 benefit of $3473, plus a 6 month spousal benefit ?

Thank you!

Hi,

I can't imagine a downside to option 2. When your husband filed for his benefits, you had the option to file for spousal benefits only on his record. Social Security is simply giving you that option now, since unreduced benefits can be paid retroactively for up to 6 months.

Best, Jerry