Dear Larry,

I am 67 and have deferred my social security (letting it increase until i'm 70). At 66 it would have been $2500/mo.

My wife turns 62 in Nov 2016. Her current projection at full retirement age is $2400/mo.

Is there any chance of either of us getting spousal benefits?

Thanks!

Hi,

Sorry, based on the new law and given her age, if your wife files for a spousal benefit, she will be forced to take her retirement and then receive her retirement benefit (reduced if she takes it early or increased if she takes it late) plus her excess spousal benefit. Her excess spousal benefit will, unfortunately, be zero since have of your full retirement benefit is less than 100 percent of her full retirement benefit. The only possible strategy that can help here is for her to take her retirement benefit now and for you to file just for a spousal benefit. She'd then suspend her retirement benefit at full retirement age and restart it at 70. Please run our software to learn if this is optimal.

best, Larry