If you are going to turn 66 before April, Time Warner Cable News’ Tara Lynn Wagner tells you about a Social Security strategy that is only available for a little while longer.

The question of when to start collecting social security is a complicated one. For Baby Boomers, full retirement age is 66. Start collecting before then, and your monthly payment is reduced. Put off collecting, and each year you wait, your payment increases by about 8 percent, until you are 70.  And keep in mind, this payment is locked in as your base rate for the rest of your life, which could be decades.

"If you are a couple in reasonably good health, there's a really good chance that one of you is going to - actually a 50/50 chance - that one of you might make it to the age of 90," certified financial planner J.J. Burns says.

For married couples, there are several ways to navigate this system, but as of May 1, there will be one less. Last year, lawmakers voted to close what some saw as a loophole - a strategy called File and Suspend.

Let's say both spouses are 66 years old. Under the old rules, the larger wage earner could file for benefits but suspend the payments.

"What my spouse can do is  take half of my benefit which is the full spousal social security benefit,” Burns says. “So I'm not taking my benefit, but they are going to collect on 50 percent of my benefit.  That means my benefit is going to continue to grow by 8 percent until my 70th birthday." 

And so is theirs since they are collecting on your benefit, not their own. This can go on until both spouses are 70 and can start collecting their maximum payment. 

Again, this option ends as of May 1, however as long as you are 66 by April 29, you can still get in on it under the wire. 

Regardless of your age, Burns says this moment should serve as a wakeup call to start taking control of your own retirement savings.

"50 percent of most of the people who walk in my office in their 50s are not maximizing their 401k plans,” Burns says.

He recommends meeting with a financial professional like a CFP who can assess where you are and work out a plan to get you where you want to go.

"When you create a plan, you might get a speed bump, you might get a road block, but the beauty of having a plan is that you are able to navigate and course correct around it," Burns adds.