Larry, my wife (63) is five years older then I am(58) we’ve decided it’s better to wait til full retirement for me. My SS will be much higher then hers. Question is this: does it make sense for her to claim off of my benefits at 65 or wait until she’s 67.7 and collect her full amount. I’m waiting until I’m 70 to collect mine. Thanks

Hi. Your wife wouldn't have the option of claiming benefits from your account until you start drawing your benefits. One of the requirements for spousal benefits is that the worker on whose record you're applying must be entitled to (i.e. applied for and receiving) either Social Security retirement or disability (SSDI) benefits.

If your wife is eligible for benefits based on her own work history then she could potentially claim those benefits first and then apply for spousal benefits when you start drawing your benefits. However, if she starts drawing her benefits prior to her full retirement age (FRA) she'll be stuck with the reduction for age that would be applied for as long as both of you are living.

For example, say Mary files for her Social Security retirement benefits at age 63. Mary's primary insurance amount (PIA), which is what she'd receive if she waited until FRA to start drawing her benefits, is $800. But, Mary's benefit rate is reduced for age to $613 in return for starting her benefits early. Several years later Mary's husband applies for his benefits, and his PIA is $2000. Mary's unreduced excess spousal benefit would then be calculated by subtracting her PIA from 50% of her husband's PIA, which in Mary's case amounts to $200 (i.e. $2000/2 - $800). As long as Mary is at least full retirement age (FRA) when her husband starts drawing his benefits she'd then be paid her full excess spousal rate of $200 in addition to her own reduced benefit rate, giving her a combined monthly benefit rate of $813 (i.e. $613 + $200)

You and your wife may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry