I am born in April 1951 and my husband in January 1952. We are both still working full time. Should either one of us apply for spousal benefits? Does it depend who is the higher earning spouse? If I apply for spousal benefits (I am 66 and have earned less than my spouse) does my spouse have to have applied and be receiving social security benefits?

Hi,

Yes, your husband would have to be drawing his retirement benefits in order for you to get spousal benefits on his record, or vice versa.

You have several possible options, among which are:
1) You file for your retirement benefits at age 70, and your husband files for spousal benefits only at that time before switching to his own record at age 70; or,
2) You file for your retirement benefits when your husband turns 66, and he draws spousal benefits only for 4 years before switching to his own record at age 70; or,
3) Your husband files for his retirement benefits at age 66, at which time you file for spousal benefits only before switching to your own record at age 70.

Which strategy is best depends somewhat on your and your husband's relative benefit rates. You may want to strongly consider running the maximization software available on this website so that you can compare all of your filing options and determine which strategy is best in your case.

Best, Jerry