Can my wife collect her benefit at 62 yrs old and then the spousal benefit when I begin collecting at 67? We are the same age and my benefit is about 2x hers year to year. Thanks.

Hi. Your wife can't claim reduced benefits on her own account and later switch to a full spousal benefit, if that's what you had in mind. But, your wife could claim her own benefits as early as age 62 and then apply for an excess spousal benefit when you claim your benefits. However, she'll only qualify for a spousal benefit in addition to her own benefit if your primary insurance amount (PIA) is more than twice as much as her own PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA). And, if your wife claims her benefits early, she'll be stuck with any reduction for age applied to her own benefit rate for at least as long as both of you are living.

For example, say Joy files for her Social Security retirement benefits at age 62. Joy's PIA, which is equal to the amount she'd be eligible for if she started drawing her benefits at full retirement age (FRA), is $800. But, Joy's benefit rate is reduced for age to $563 because she's claiming her benefits at age 62. Several years later Joy's spouse applies for his benefits, and his PIA is $2000. Joy's unreduced excess spousal benefit would then be calculated by subtracting her PIA from 50% of her husband's PIA, which in Joy's case amounts to $200 (i.e. $2000/2 - $800). If Joy is at least FRA when she becomes eligible for her excess spousal benefit, she would then be paid the full unreduced excess spousal amount of $200 in addition to her own reduced rate of $563 to give her a combined rate of $763. But, if Joy isn't yet FRA when her husband claims his benefit, then her spousal amount would also be reduced based on her age at the time her husband claims his benefits.

It sounds like you and your wife should to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of your various options so that you can determine the best overall strategy for maximizing your benefits.

Best, Jerry