Ask Terry Questions Social Security

Social Security

By Terry Savage on June 19, 2018 | Financial Planning / Retirement

In two years I will be 70 and my wife will be 66. I amy trying to figure out whether she should take spousal benefits at 66 or wait to until she is 70 and take her social security benefit. My benefit will be at the maximum available . My wife’s will be significantly less. We are both in excellent health . Her family lives into their late 90’s. I will not likely live that long.What happens after I pass away ? Does my benefit transfer to her.?

Thanks for your help.

Terry Says

If longevity runs in her family, and if you can afford to wait, she should definitely wait until her own full retirement age. They changed the rules on spousal benefits a couple of years ago. It’s complicated, but really not applicable to your situation. Delay and get that larger check, upon which future benefit increases will be based.

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