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How to collect spousal benefits and wait until 70 to claim your Social Security

Most financial advisors will tell you the highest wage earner in the family should wait to collect Social Security benefits until age 70.  Benefits increase on average 8% per year for each year you wait to collect benefits after you reach your full retirement age.  This article shares the secret of how to collect benefits from your spouse’s early retirement while you wait until 70 to collect your own benefits.

Social Security is much more complicated than folks believe.  There are rules for minor children, divorced spouses, disabled individuals, and the list goes on.

I just benefitted from a little-known rule that allows me to claim benefits on my spouse’s work record while she is receiving her payment, and my retirement benefits continue to grow without reduction until I turn 70.  I will start getting a monthly check from Social Security now and a retroactive payment for the last six months.

Sounds too good to be true?  The devil is in the details.

First, you must go to the Social Security Office to claim this benefit.  You cannot use the “My Social Security” website to claim this benefit.

Second, you must be born before January 2, 1954, you must have reached your full retirement age, and your spouse must be collecting benefits.

Third, you must clearly state you are not claiming benefits on your work record.

So, if your spouse is receiving $1,200 per month, you will receive $600 per month until you can claim your full increased benefits at age 70!

Respectfully submitted,
Keith P. Huffman
November 2019

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