I was born in 1952 so I have the option of obtaining a spousal benefit provided my spouse files.

• I will be 66 next month, full retirement age.
• I do not currently plan to file until age 70.
• My spouse was born in 1956, is 62 and and can file for reduced benefits now.
• Her benefit at 62 is $891 , at full retirement it’s $1208 and at 70 it’s $1563.

If I understand correctly, if she files now she will get $891 and I will get a spousal benefit of $445. A total of $1337.

Question is……should she file now and I file for spousal benefit? It would be helpful to know at what age/year we we fall behind if we were to make this choice.

Hi,

Your spousal benefit rate at full retirement age (FRA) would actually be 50% of your wife's full retirement age rate, or primary insurance amount (PIA), even if she's not yet FRA and she'd receive a reduced rate. Also, if your wife is still working both her benefits and your spousal benefits could be subject to full or partial withholding if she earns more than the Social Security earnings test exempt amount (https://www.ssa.gov/planners/retire/whileworking.html).

You don't say how much your own retirement benefit rate will be at age 70, but if it's higher than your wife's age 70 rate that would be a point in favor of choosing the option of her filing early so that you can start drawing spousal benefits. Still, whether or not that's your best option depends on your presumptions about the maximum ages that you and your wife may live to, as well as economic factors such as future rates of inflation. Our software would allow you to run your numbers using different variables so that you can decide for yourself which option would likely work out best for you and your wife.

Best, Jerry