Hi Larry, thanks for taking my question. I am retired and started drawing s.s. at 62 yrs old. I receive just under two thousand dollars a month. My wife will be 62 this year and does not have the credits to draw s.s. on her own. If she were to file for spousal benefits could tell me (approximately) how much she should/would receive? Also, do any of the new laws you have been writing about affect us?
Thank you so much, Steve
Steve,
You wife's reduced spouse's benefit will be a little over $900 if she files at age 62. If she waits until age 66 it will be a little over $1,300. Our software, MaximizeMySocialSecurity, can calculate the exact amount of her benefit for any date that she files. The Bipartisan Budget Act of 2015 doesn't affect you.
Best,
Mike