My wife was born 11/1952, I was born 3/1957. My wife became a homemaker and full time grandma about 6-7 years ago after a full career. I wish to work until age 70 to maximize my (our) benefits. My wife also would like to maximize her benefit. I have 2 questions: 1.) Should I file for spousal benefits at age 66 1/2 and defer my own benefit until age 70? 2). Will my wife be able to receive a spousal benefit from my earnings if I file and suspend my own benefit until age 70? My benefits will be substantially larger than my spouse. Thanks, Jim

Dear Jim,

Yours is definitely a case to run through our software. It's $40, but it will figure out what's best within a minute or two.

Your case is actually pretty complex. If your wife will be able to collect a spousal benefit on your record, she may actually want to take her retirement benefit early and her excess spousal benefit when you take your retirement benefit.

Or it might be best for you to take your own retirement benefit at 62, have her take just her spousal benefit at 67 (She was over 62 on January 1, 2016 so she can still do this, whereas you are too young.), and take her retirement benefit at 70. Meanwhile at your full retirement age you would suspend your retirement benefit and restart it again at 70.

What's best depends on the precise levels and relatives sizes of your past earnings and your maximum ages of life. Do run the software. It could well need to consider 40,000 cases in your case.

One thing you suggest is not permitted under the new law because you are too young. You can't take just your spousal benefit and not simultaneously take your own retirement benefit. You'll be forced to take them both and then you'll just get the larger of the two.

My best, Larry