Ask Bob: Social Security and Restricted Applications

Robert Powell, CFP®

Question: I am 64 and just started collecting my Social Security. My wife is now 60. If she could draw half of mine when she reaches 62 and delay hers until 67 that would be great. But I thought that Social Security stopped allowing that situation to occur.

Answer: The restricted application is only available for those born on or before Jan. 1, 1954, says Jim Blankenship, a certified financial planner with Blankenship Financial Planning, blogger, and author of A Social Security Owner's Manual, Social Security for the Suddenly Single: Social Security Retirement and Survivor Benefits for Divorcees, and most recently A Medicare Owner's Manual.

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