3. Other ways to increase the benefits

We told you about delaying your benefits, but you should know that there is another way you can increase your benefits. This is actually kind of another variation on delaying the benefits, but we want you to be aware of it because it can help you a lot.

If you have a spouse and you were both born before January 2, 1954, and you also reached full retirement age, you can do the following: you can claim the spousal benefits.

If you are wondering why you would do that, we are here to answer your question. It is simple. You can receive the spousal benefits and let your own benefits grow. This is a useful trick that not a lot of people know.

As soon as you turn 70, you can start receiving your higher benefit. But there is one thing you should be careful about: You can’t claim your own benefit first if you want to make use of the one we mentioned. This is called “restricted application.

To postpone receiving their own benefits while claiming spousal benefits for the first time, spouses and ex-spouses must have been born before January 2, 1954. Any other applicant will have their claim for benefits for themselves and their spouse considered equally.