Stretching a monthly income to its greatest potential can be tricky. Social Security benefits are often one of the most reliable incomes a person or couple might have on a monthly basis. So what can be done to increase the benefits?

1. If you are single, it makes sense to wait until your full retirement age (usually age 66) to start claiming benefits unless you expect to die, or need the money sooner.

2. By coordinating start dates married couples can maximize benefits. If you, as the higher-earning spouse delay until the age of 70, your wife may receive and extra 32% plus cost-of-living adjustments. If you collect before the age of 66 your benefit and your wife’s survivor benefit will be reduced. However, if she waits to until her full retirement age to collect, she’ll get 100%.

3. Let’s say you would like to delay benefits until the age of 70, and you were the higher earning spouse. Your wife would like to collect, is older than 62, and would collect more with a spousal benefit than with her own record—but she can’t collect spousal benefits until you’ve filed. Here’s an idea: you file for your own benefit and your wife applies for the spousal benefit. You then immediately request a voluntary suspension for your own benefits. Your wife gets the spousal checks, and you earn a bigger benefit when you reapply later.

4. If you are at full retirement age, and want to claim benefits now, you might consider having your wife apply, while you apply for and collect her spousal benefits until you turn 70, in which case you then switch to your own higher benefit.

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