Hi Larry,
I was born in Nov. 1956, and my husband was born in Aug. 1953. I worked before our marriage, then became a stay at home mom. I qualify for a small SS benefit. My husband has a much larger SS benefit. He plans to retire at 66 or later. We want to wait to take his SS to maximize our benefits. My half of my husband's benefit at his FRA is much larger than my own SS benefit. My husband qualifies for a restricted application. I do have a small income which varies, but is usually around 16,000/yr from an S corp, and an inherited IRA which is invested in mutual funds and has an RMD of about 5000/yr. Would the best way to maximize our benefits be for me to take my SS benefit at 62, then when my husband reaches 66 (FRA) he takes his spousal portion of my SS in a restricted application (His income will mean he takes nothing until he retires). Then if he retires at 67, he will get the full spousal portion plus be repaid any he lost out on due to his income?) When I reach FRA of 66 and 4 months, my husband will be 69 and 7 months. At that point, could my husband file for his own SS benefits (which have been earning 8% a yr since he turned 66) and I apply to receive my spousal benefits on his SS (which I think means they would add to my own benefit until it reached the amount of half his benefit at his FRA? How is that for complicated?

Hi,

Your situation doesn't sound that complicated, relatively. It sounds like you would probably want to file for your retirement benefits when your husband reaches age 66, at which time he could file for spousal benefits only on your account. At age 70, your husband would switch to his own record and you could apply for spousal benefits on his account. He could switch to his own record sooner than age 70, but that would result in a lower monthly benefit rate for him, and potentially a lower widow's benefit for you if he dies first.

Your husband's earnings won't effect his ability to draw spousal benefits starting at age 66. Your earnings could effect both your benefits and your husband's spousal benefits until you reach full retirement age, but it doesn't sound like you earn enough to be subject to benefit withholding under Social Security's earnings test (https://www.ssa.gov/planners/retire/whileworking2.html). Income from an inherited IRA would not count for earnings test purposes.

You and your husband should strongly consider using the maximization software available on this website. That way, you can compare all of your options and decide on what you think is your best filing strategy.

Best, Jerry