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File and suspend to collect some now, more later

For dual-income couples, it is important not to leave Social Security benefits on the table. If both spouses have similar earnings and are close in age, they can exercise a combo strategy. At 66, one spouse can file and suspend to trigger the other spouse’s benefits. Then the other spouse, at 66, can file a restricted claim for spousal benefits only. Since neither is claiming his or her own retirement benefits — remember, one has suspended benefits and the other is collecting spousal benefits only — both can continue to earn delayed-retirement credits until their benefits reach the maximum amount at age 70….Read More

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