Larry, I'm reading your book, "Get What's Yours" and still don't understand one issue. My wife and I are both 62 and she worked early in life but is a housewife now. Her social security benefit is approx. $400 a month if she draws now. Can she draw that now and then switch to her spousal benefit when I start drawing my benefit at 66 or 70. I'd hate to leave $400 on the table for 4 or more years. I couldn't find that "Deeming" prevented this. Thanks.

Hi,

No, she can't switch to your account, but she may receive an excess spousal benefit on your record when you apply. The important thing to understand is that if she files for reduced benefits on her own record, she will keep that reduction for as long as you both live.

For example, say your wife's unreduced age 66 benefit would be $540, but she files now and receives $400 per month instead. Then, say your unreduced benefit at age 66 is $2000, and you file then, and your wife files for an unreduced excess spousal benefit. Your wife's excess spousal benefit would be calculated by subtracting her own unreduced age 66 benefit of $540 from one-half of your unreduced benefit, or $1000. The difference of $460 would become her excess spousal benefit, which would be added to her reduced retirement benefit of $400 for a total benefit of $860.

Obviously this is only an example, since I have no idea what your benefit amount would be. You may wish to consider running the maximization software available on this website in order to clarify your options.

Best, Jerry