I turn 66 in August of 2017--my wife turns 66 also in August 2017, I was planning on drawing my SS in August and have my wife file for the spousal benefit and draw it until age 70--we both plan on working another 3 to 4 years. Should/can I start drawing my SS in January 2017 and not affect my SS draw at age 66 - by end of June 2017 my income would be close to 40K. Does this make sense?
Thank you!

Hi,

You can start your benefits effective January 2017, but that will reduce your monthly benefit rate by about 4% from the age 66 rate. Also, if your earnings from January through July 2017 exceed the Social Security earnings test limit, some of your benefits may be withheld (https://www.ssa.gov/planners/retire/whileworking2.html).

Your wife, however, would not be able to file for spousal benefits prior to the month she reaches age 66 without also being deemed to apply for benefits on her own record.

Before either of you file for benefits, you may wish to consider running the maximization software available on this website in order to be sure that you make the best possible choices.

Best, Jerry