My wife is 63 and her SS benefit at age 63 (based on her work record) is about 613 dollars per month. I am 65 still working and my projected SS benefit at FRA is approximately 2600 dollars per month. Neither of us are currently drawing social security benefits. My question; can my wife start collecting (her work record benefits) of 613 dollars per month now and then switch/take advantage of the larger spousal benefits at the time I start collecting my own SS benefits? Thank you in advance for the information.

Hi,

The answer is yes, but she'll keep any reduction that she takes on her own record. For example, if her age 63 benefit is $613, her unreduced age 66 benefit amount would be about $767. Therefore, her reduction for starting at age 63 is about $154. If she subsequently files for a spousal benefit on your account, her unreduced excess spousal benefit would be about $533 based on your figures (i.e. $2600/2 - $767). So, if she files on her own account at 63 and on your record at age 66, she could expect a total benefit of about $1146 (i.e. $613 + $533).

There is a another potential upside to your wife filing for reduced benefits. It would allow you to file for spousal benefits only at age 66, while allowing your own benefit amount to grow. If you wait until age 70 to start your own benefit, it will be 32% higher than if you start drawing it at age 66.

There are numerous possible options for you and your wife to consider. You may wish to run the maximization software available on this website in order to determine the best choice.

Best, Jerry