Hey Larry,

My wife is currently 60 and we are trying to make the smartest choice on when she should start collecting her Social Security. We are both retired currently. She was primarily a stay at home mom so her benefit for FRA is relatively small. Our main goal is that we don’t want her decision on whether to start at age 62 or wait until 67 to adversely effect her eventual spousal benefits.

I was the primary breadwinner. I am currently age 52 and want to make sure she gets the maximum possible benefits in the event that she outlives me as she has longevity in her family and lives a very healthy lifestyle.

Larry what is the best time for her to file keeping in mind that her benefits based on her irk history will be very small even if she waits until age 67? Also, when is the best time for me to start my own benefits to ensure she gets the best possible spousal benefits? Lastly, since she is 8 years older, even though she looks 8 years than me, can I get a spousal benefit before I turn 62 and then stop collecting when I become eligible for my own Social Security? Thanks for your help.

Hi. Your wife could start drawing as early as age 62, but her benefit rate would then be reduced for age. And, she'll keep any resulting reduction in her own benefit rate for as long as both of you are living. However, even if your wife claims her benefits early, she could still receive unreduced widow's benefits as long as she's at least full retirement age (FRA) when she starts drawing the widow's benefits.

For example, say Mary files for her Social Security retirement benefits this year at age 62. Mary's primary insurance amount (PIA), which is equal to the amount she'd receive if she waited until her full retirement age (FRA) to start drawing, is $400. But, since Mary is claiming benefits at age 62 her benefit rate is reduced for age to $285. Six years later Mary's husband applies for his benefits, and his PIA is $2000. Mary's unreduced excess spousal benefit would then be calculated by subtracting her PIA from 50% of her husband's PIA, which in Mary's case amounts to $600 (i.e. $2000/2 - $400). Mary would then be paid the full unreduced excess spousal amount of $600 in addition to her own reduced rate of $285 to give her a combined rate of $885.

If you want your wife to get the highest possible survivor benefit in the event of your death then you would want to wait until age 70 to claim your benefits. A surviving spouse can collect up to 100% of what their deceased spouse was collecting, so if you wait until age 70 to start drawing your benefits then your wife could end up with your full age 70 rate as a widow.

However, keep in mind that your wife can't collect spousal benefits while you are living until you start drawing your benefits. So, your best overall strategy will depend largely on what you feel is best for you and your wife. You and your may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze the options available to you in order to determine your best strategy for maximizing your benefits.

The answer to your last question is no. You would never be able to collect spousal benefits while your spouse is living. Only people born prior to January 2 1954 can claim spousal benefits without being required to claim their own benefits at the same time. Therefore, if you were to apply for spousal benefits you would have to claim your own benefits at the same time, and you could then only be paid the higher of the 2 benefit rates.

Best, Jerry