I was born 12/4/52 and my wife 12/9/53. As I understand it, that puts her at age 62 before the law changes of Jan 2, 2016. We both have worked for over 40 years and I am the higher earner. Do I understand correctly, that a strategy would be that if it is my intent to work until age 70, I would be about to collect spousal benefits if my wife filed for and began collecting retirement at her FRA (66). I could collect 50% of her benefit ?? and then file for my own retirement at age 70 as I planned?? It was her intent to file for retirement at age 67, and we realized that the trade-off was significant enough that she should look at 66 if I have stated the facts correctly. Is my assessment correct??

Thanks,
Dan

Hi Dan,

Yes, one option would be for your wife to start drawing her retirement benefits at age 66 and for you to file for spousal benefits only at that time. You could then file for your own retirement benefits at age 70.

That's just one of many possible options available to the two of you, however, and your best strategy depends on your relative benefit rates and your personal preferences. You should strongly consider using our maximization software to explore and compare all of your options in order to determine the best possible strategy for both of you.

Best, Jerry