Ask Rusty – Social Security for couple with large age difference

Social Security Matters:

Dear Rusty:  My wife is 63 and I’m 55. I’ve been the breadwinner for 37 years and draw almost $2000 per month tax free from VA disability for life. I’m also still working until I’m 60 or 62, not sure yet, and will have a pension of about $1900 per month. We have about $300k put away in retirement accounts. Since I still have a few years I haven’t really looked much into retirement. Is there anything you can recommend on how to go about Social Security with the age difference?  Signed: Younger Husband

Dear Younger:  With your VA disability benefit, your expected pension from work, your savings and your eventual Social Security benefit you are positioned better than many for your later retirement.

You didn’t say whether your wife is already collecting Social Security benefits on her own work record, and that can be a factor in deciding when you should apply.

 

 

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