My wife is 64 and I am 62. I am the higher wage earner and plan to work until I am 70. Would it make sense for her to file for benefits on her own limited work record now and then file for a spousal benefit once I file for my benefits? Can that be done?

Hi,

Yes, that could be done, but your wife would then be stuck with a reduced retirement benefit rate for as long as both of you are living.

For example, say Amy files for reduced retirement benefits at age 64. Amy's full retirement age rate (PIA) is $500, but her reduced rate at age 64 is $433. Amy's husband subsequently files for his benefits after Amy reaches her full retirement age of 66, and his PIA is $2000. Amy's spousal rate would be calculated by subtracting her PIA from 50% of her husband's PIA, which in this case would be $500 (i.e. $2000/2 - $500). This $500 spousal benefit would then be added to Amy's reduced retirement rate of $433 to give her a combined benefit rate of $933.

Before filing, you and your wife should strongly consider using our maximization software in order to compare your options and determine your best overall filing strategy.

Best, Jerry