Is It True That I Can Collect Spousal Benefits At Age 66 And Let My Own Rate Grow Until Age 70?

Apr 20 2017 - 7:34am

I just turned 66 years of age. My wife is already collecting social security having reached 66 years of age 2 years ago. I am still working and plan on not filing for my benefits until I am 70 years old to maximize my benefit amount.
I have been told that I can collect an amount that equals 50% of my wife's monthly benefit if I do not collect my own at this time and can do that until I file for my own benefits when I turn 70 years old. Is this true and if it is true will doing so change the amount I can collect at 70 years old?

Hi,

Yes, it's true. And no, drawing spousal benefits will not change the benefit rate you will receive on your own record at age 70.

Congress passed a law outlawing this strategy in 2015, but grandfathered people like you who were born prior to January 2 1954 (https://www.ssa.gov/planners/retire/deemedfaq.html). It sounds like this would almost certainly be the best filing strategy in your case, but you may want to run the maximization software available on this website to be sure.

Best, Jerry