I'm 69 waiting for 70 to take my benefit, my wife will be 62 in Nov should she take hers then(about $800)

Hi,

I can't give you a yes or no answer to that question. The upsides of your wife starting her benefits at age 62 would be that she'd start drawing benefits sooner, and it would allow you to draw spousal benefits while waiting until age 70 to start drawing your own benefits. The downside would be that your wife's benefit rate will be reduced by roughly 27% to 27.5% from what she would receive if she waited until full retirement age (FRA) to start drawing, and that reduction will continue for as long as both of you are living even if your wife later qualifies for spousal benefits. If your wife does file for her benefits now and then qualifies for additional spousal benefits when you reach age 70, her spousal benefits will also be reduced based on her age at the time you start drawing your benefits.

You and your wife should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare your options so that you can determine which filing strategy you believe would work out best for you in the long run.

Best, Jerry