My 73 year old wife worked for a few years and began taking her SS benefit at her FRA. I just turned 69 and plan on filing for my benefit at age 70. I paid into SS for nearly 40 years and have by far the greater benefit due. I understand that when I apply, she will be entitled to an increased benefit which will equal 50% of my benefit. Is that correct?

Two questions: I turn 70 on February 8, 2024. (1) Specifically what date should I file for my benefit? (2) Does my wife need to take any action with the SSA people, or will my filing automatically include her?

Hi. Not exactly. When you start drawing your benefits it sounds like your wife will become eligible for an excess spousal benefit equal to the difference in her primary insurance amount (PIA) and 50% of your 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). So, if 50% of your PIA is higher than your wife's PIA and if she started drawing her own benefits at FRA, then her combined benefit rate should add up to 50% of your PIA, not 50% of your age 70 rate.

If you want to receive your full age 70 rate you'll want to claim your benefits effective with February 2024. Social Security allows you to apply up to 4 months early, so you could then apply as soon as October 1 2023. However, you could file your application on any date from October 1 2023 through August 31 2024 and still be able to claim February 2024 as your month of election to begin benefits.

Your wife won't automatically start getting spousal benefits based on your application. She'd need to apply for spousal benefits, which she can do as early as the same day that you apply for your benefits.

It sounds like you may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of your options so that you can make sure that you're choosing the best possible strategy for maximizing your benefits.

Best, Jerry