Ask Bob: Making the Most of the Restricted Application Strategy

Robert Powell, CFP®

Question: Please explain the Social Security restricted application strategy. I am 65 (66 in November) and my wife will be 65 in October. I have delayed Social Security until 70, as I am the primary wage earner. We are both eligible for Social Security and are married for more than 40 years.

Answer: Social Security income for individuals with a spouse can consist of two different benefits -- primary and spousal -- which may be completely separate from each other, says Jeffery Nauta, a certified financial planner with Henrickson Nauta Wealth Advisors.

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