I am confused by some of the blog concerning spousal benefits. My wife will be 63 in April and I reach my full retirement age in November 2018. We were planning for her to apply this month and when I reach my FRA in November apply for spousal benefits to maximize our social security. I am planning to work until age 70. It was mentioned somewhere that this would affect future earnings. However, at FRA can't I earn as much as I am able without subject to penalty?

Hi,

Yes, you could start drawing your benefits at full retirement age (FRA) regardless of how much you earn, but it sounds like you might not be choosing the best filing strategy. Assuming that your wife files for her benefits, it may be better for you to file just for spousal benefits only at FRA and allow your own rate to grow until age 70. Your retirement benefit rate would be 32% higher in that case, and that rate would also carry over to your wife's potential widow's rate should you die first.

You and your wife should strongly consider using the maximization software available on this website in order to compare your options and determine your best overall strategy.

Best, Jerry