My wife turned 62 this year and started taking SS benefits, about $800/month. I'm 55 so I won't be taking benefits for at least another 7 years (although I am retired, lucky me, so no wage income). Can (and should) she file for spousal benefits? My FRA benefit is currently calculated at about $3,000/month so even if she only gets the difference between her benefit and 50% of mine, that's still an extra $700/month she could be getting, if I understand spousal benefits which is a big if. Or is she only eligible for spousal benefits AFTER I start drawing my own SS benefits? Thanks for helping me understand.

Hi. No, your wife couldn't qualify for spousal benefits at least until you start drawing your benefits, and even then she'll only qualify for spousal benefits if your primary insurance amount (PIA) is more than twice as much as her 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).

For example, let's say Amy files for her benefits this year at age 62. Amy's primary insurance amount (PIA), or full retirement age rate, would be $1,200, but Amy's rate is reduced for age to $795. Seven years later, Amy's husband, Bill, files for his benefits when he turns age 62. Bill's PIA is $2,500 so Amy applies for an excess spousal benefit. Amy's excess spousal rate is calculated by subtracting her PIA from 50% of Bill's PIA, which in Amy's case is $50 (i.e. $2500/2 - $1200). That amount would then be paid in addition to Amy's own reduced benefit rate to give her a combined benefit of $845 (i.e. $795 + $50).

You may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry