Harvey (66) & Marilyn (69)
After attending our Social Security workshop, Harvey and Marilyn explained that she had already filed for Social Security when she was 62.
Marilyn's checks are $450 a month, whereas, Harvey's will be $2841 when he reaches age 70 and he understood that Maryily will receive that amount if he should predecease her.
We ran a Social Security Analysis for them and illustrated that Harvey will be losing money if he doesn't file now.
If Harvey files a Restricted Application today he will collect $316 a month plus Cost of Living increases between now and his age 70. At age 70 his full benefit will still be $2,841 a month plus, at that time, Marilyn will receive an additional spousal benefit of $650 a month for a total of $1100 a month for life, or until either pass away and the survivor will receive the highest of the two for life, which would be $2,841 a month assuming no Cost of Living ever.
Let us illustrate the best option for you with a FREE Consultation or at a FREE WORKSHOP at a local library near you.