I'm fairly new to this site and have really enjoyed the difference of opinions. It helps me see things from different perspectives. We have been considering this issue for a while now. I'm 68 and my wife is 65. This issue is a little more challenging for us, since we have a 13 year old adopted child who is entitled to benefits on both our work records. We decided my wife (with the lower benefits) and our daughter would collect on my wife's work record and I would defer my benefits for some period of time. Now that I have deferred for 19 months, we have decided it's time for me and my daughter to collect based on my work record. Obviously, this deferral will result in significant increase in benefits. Most people seem to insist (usually very strongly) that either collecting right at FRA or deferring until 70 is optimal. As in many issues, sometimes the best option for a person/family might be somewhere in between the extremes. For us, deferring for about 1 1/2 years appears optimal. Another thing to consider is that if you choose to defer after FRA, you can alter that decision by applying at some later time (before 70) and receive up to 6 months in retroactive benefits. As a result, a person can defer beneifts and see how that works. If circumstances change, they can file and get up to 6 months of retroactive benefits.
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I'm fairly new to this site and have really enjoyed the difference of opinions. It helps me see things from different perspectives. We have been considering this issue for a while now. I'm 68 and my wife is 65. This issue is a little more challenging for us, since we have a 13 year old adopted child who is entitled to benefits on both our work records. We decided my wife (with the lower benefits) and our daughter would collect on my wife's work record and I would defer my benefits for some period of time. Now that I have deferred for 19 months, we have decided it's time for me and my daughter to collect based on my work record. Obviously, this deferral will result in significant increase in benefits. Most people seem to insist (usually very strongly) that either collecting right at FRA or deferring until 70 is optimal. As in many issues, sometimes the best option for a person/family might be somewhere in between the extremes. For us, deferring for about 1 1/2 years appears optimal. Another thing to consider is that if you choose to defer after FRA, you can alter that decision by applying at some later time (before 70) and receive up to 6 months in retroactive benefits. As a result, a person can defer beneifts and see how that works. If circumstances change, they can file and get up to 6 months of retroactive benefits.
Post: Rehashing the age 70 thing. Tell Dear Dickie what is it that he doesn’t get about SS at age 70?
Link to comment from August 22, 2025