I am currently 65, and planning to file for social security when I turn 66 next May. My wife just turned 63. My original plan was to have her file for benefits next May, and I would file a restricted application for spousal benefits at the same time. That would generate about $1,200 in monthly benefit. I would file for my benefit at age 70 and she would switch to a spousal benefit at that time.

I have a substantial portfolio of dividend paying stocks that provide more monthly income than I need, so I really don't even need the social security benefits. Does it make ANY sense to file for my retirement benefits at age 66, and have my wife file for spousal benefits at that time which would generate about $3,600/month and invest that in a federal and state tax-free muni bond fund. It seems that investing the extra funds at age 66 would be better than waiting to file for my retirement benefits at age 70.

Any thoughts?

Hi,

I'll defer to Larry's explanation for why it is likely better for you to follow your original plan:
https://maximizemysocialsecurity.com/can-i-earn-more-taking-social-secur...

Best, Jerry