--- title: April 30, 2016 Social Security Deadline – Could this cost you thousands of dollars? description: April 30, 2016 Social Security Deadline – Could this cost you thousands of dollars? image: https://blog.globalviewinv.com/hubfs/Imported_Blog_Media/SS.png --- [![3_Global-View-SMALL_long_black](https://globalviewinv.com/wp-content/uploads/2025/10/3_Global-View-SMALL_long_black-scaled.png#130)](https://globalviewinv.com) ✕ - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/) - [Our Founder](https://globalviewinv.com/about-us/) - [Meet Our Team](https://globalviewinv.com/about-us/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/about-us/) - [Referral Partners](https://globalviewinv.com/about-us/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Comprehensive Financial Planning](https://globalviewinv.com/what-we-do-global-view/comprehensive-financial-planning/) - [Setting the Path to Retirement](https://globalviewinv.com/setting-path-retirement/) - [Worry-Free Portfolio Management](https://globalviewinv.com/what-we-do-global-view/worry-free-portfolio-management/) - [Tax and Estate Planning Coordination](https://globalviewinv.com/what-we-do-global-view/tax-and-estate-planning/) - [Navigating Life After Loss](https://globalviewinv.com/navigating-life-after-loss/) - [Our Fees](https://globalviewinv.com/what-we-do-global-view/our-fees/) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Client Experiences](https://globalviewinv.com/who-we-serve/client-experiences/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) - [Client Login](https://globalviewinv.com/client-login/) - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/) - [Our Founder](https://globalviewinv.com/about-us/) - [Meet Our Team](https://globalviewinv.com/about-us/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/about-us/) - [Referral Partners](https://globalviewinv.com/about-us/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Comprehensive Financial Planning](https://globalviewinv.com/what-we-do-global-view/comprehensive-financial-planning/) - [Setting the Path to Retirement](https://globalviewinv.com/setting-path-retirement/) - [Worry-Free Portfolio Management](https://globalviewinv.com/what-we-do-global-view/worry-free-portfolio-management/) - [Tax and Estate Planning Coordination](https://globalviewinv.com/what-we-do-global-view/tax-and-estate-planning/) - [Navigating Life After Loss](https://globalviewinv.com/navigating-life-after-loss/) - [Our Fees](https://globalviewinv.com/what-we-do-global-view/our-fees/) [![2_Global-View-TAGLINE_stacked_white](https://globalviewinv.com/wp-content/uploads/2025/10/2_Global-View-TAGLINE_stacked_white-scaled.png#123)](https://globalviewinv.com) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Client Experiences](https://globalviewinv.com/who-we-serve/client-experiences/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) - [Client Login](https://globalviewinv.com/client-login/) [![6_Global-View-Icon-black](https://globalviewinv.com/wp-content/uploads/2025/10/6_Global-View-Icon-black-scaled.png#68)](https://globalviewinv.com) # April 30, 2016 Social Security Deadline – Could this cost you thousands of dollars? ![](https://globalviewinv.com/wp-content/uploads/2025/11/gold-line.jpg) # Global View Investment Blog [![](https://blog.globalviewinv.com/hubfs/Imported_Blog_Media/SS.png)](https://blog.globalviewinv.com/2016/03/april-30-2016-social-security-deadline-could-this-cost-you-thousands-of-dollars) # April 30, 2016 Social Security Deadline – Could this cost you thousands of dollars? [Financial Planning](https://blog.globalviewinv.com/tag/financial-planning), [Social Security & Medicare](https://blog.globalviewinv.com/tag/social-security-medicare), [Global View News & Commentary](https://blog.globalviewinv.com/tag/global-view-news-commentary) Mar 29th, 2016 By: [Joe Hines](https://blog.globalviewinv.com/author/joe-hines) ![SS](https://blog.globalviewinv.com/hs-fs/hubfs/Imported_Blog_Media/SS.png?width=317&height=238&name=SS.png)                 **Example 1** John, age 66, and Sue, age 65 turning 66 in May 2016. He is a surgeon and she has been a homemaker most of her adult life. He plans to work until age 70. Their parents lived until their late 80s. John and Sue are in great health and have a long life expectancy. Based on these assumptions we decided to wait as long as possible for John to take social security. We know that the surviving spouse will only get the greater of the two amounts and will lose the other spouse’s benefit at the first spouse’s death. With a long-life expectancy it is important maximize the survivor’s benefit. The spousal benefit will not increase after age 66, so the person taking the spousal benefit should begin by age 66. However, if the high-earning spouse has not filed for social security then they can’t take the spousal benefit. John wants to maximize his benefit and, based on male life expectancy versus female, for his spouse. Therefore, John will need to file and suspend before April 30th in order for Sue to take the spousal benefit. This is where the deadline can impact them. In the case illustrated above the couple could miss the opportunity to receive over $63,000 based on their life expectancy. This is Huge!! **Example 2** Bill, age 68, is looking to retire this year. His wife, Mary, age 67, would like to work for several more years. Bill’s recent annual earnings are around $65,000 per year and Mary’s are around $33,000 per year. Mary would benefit most from taking the spousal benefit (restricted application) now and letting her Social Security benefit continue to increase by 8% each year after Full Retirement Age (age 66), until age 70. This could mean the difference between tens of thousands of dollars. These real examples are based on individual and survivor life expectancies. It is important analyze your particular situation, including health, parent life expectancy, etc. For more information, contact an advisor at Global View Investment Advisors at 864.272.0820 or [www.globalviewinv.com](http://www.globalviewinv.com/).   ![Joe Hines](https://blog.globalviewinv.com/hubfs/Joey%20Global%20View.jpg) ### Written by [Joe Hines](https://blog.globalviewinv.com/author/joe-hines) Joey's primary focus is working with clients in the goals setting and financial planning process. 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