The Social Security Strategy

There is a limited window of opportunity to take benefit of a Social Security strategy that could increase your Social Security monthly benefits.

If you were born April 30th 1950 or earlier you can file for benefits at full retirement age and then suspend them to earn delayed retirement credit while allowing a spouse to collect benefits on your record while you delay  An a married couple has until April 29th of 2016.

Also if  you were born before April 30th 1950 or earlier, an individual can file and suspend. If circumstances change the individual can go back and collect the  suspended benefits. However, future benefits will be based on the earlier filing date. The suspension must be filed by April 29th 2016 .

If you  and your spouse were born between May 1st 1950 and January 1st 1954 you can still file a restricted application for benefits until April 29th of 2016. One spouse can choose whether to take a spousal benefits or one based on their work record.

If you are in this age group it is important that you seek advice and take action before April 29th 2016.