Larry, I will be 70 in June 2016. Recently my wife and I went to the local Social Security office and I completed the paperwork to start drawing my Social Security the month I turn 70. My wife was born January 1, 1952 and turned 64 on January 1, 2016. I know that she can draw one-half of my social security once I start drawing. However, we would like for her to draw one-half of mine until she turns 70, allowing her benefit to grow, then draw on her own benefit at 70.

IS THE 50% SPOUSAL BENEFIT ALWAYS 50% OF THE OTHER SPOUSE'S FULL BENEFIT?

I am 71 and my wife is 66. I have been collecting regular SSA at the reduced rate of course since 62. My wife still works and she does not collect. It appears that her spousal benefit is 50 percent of what my benefit would have been had I waited to collect at 66 as opposed to half of what I actually get. Is this correct? What is the logic?

Hi,

Hi Larry,

I am 69. When my wife turned 66, I filed and then suspended. She is getting spousal benefit (Half of what mine would have been) I guess she filed a restricted application. Her own benefit would be much lower. At 70 I will apply. At 70 she can apply if it is then more than spousal benefit. My question is did I miss out or could I have gotten a spousal benefit from her. Thank you so much and yes I am writing your name in for President!

All best, Ken

Hi Ken,

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,

Dear Larry,

I've always assumed that my wife and I should wait until we're both 70 to take our social security maximums. Recently, however, I read that for married couples, a good strategy for balancing the benefit of earlier payouts with the benefit of later but higher payouts is for one spouse to collect earlier and the other to collect at the maximum. Any thoughts on this strategy? thanks, James

Dear James,

I will be 66 in 14 months, My husband is. 2 years younger.
We have been married 33 years, 2 grown healthy children, He was the larger earner for most of our marriage and his expected income from SS is probably about double mine at this time. . I would estimate that I could easily live beyond 85, I would estimate that 85 would be more realistic/optimistic for him ( he lives with me:)) We are both still working and plan on continuing beyond 66. He has some health challenges that are stable at this time - family longevity is 76 for Dad mom is still alive at 86.

I'm 64 and wife is 63 and we are both retired. We both are SS eligible from work histories. I'm the larger wage earner and at my FRA the spousal benefit will be her highest draw. Can she file for her benefits now (age 63) without impacting her spousal benefits when I reach FRA and file for my benefits? Yours, Pat

Hi Pat,

I am 71 and my wife is 66. I have been collecting regular SSA at the reduced rate of course since 62. My wife still works and she does not collect. It appears that her spousal benefit is 50 percent of what my benefit would have been had I waited to collect at 66 as opposed to half of what I actually get. Is this correct? What is the logic?

Dear Sir,