I have been a homemaker for over 20 years, so my SS benefit is significantly less than that of my wife, our primary breadwinner. If I file for my benefit at age 62, will I then be eligible for a spousal benefit when my wife files at age 70 (I will then be about 67 1/2)? Half of her Full Retirement Benefit is approximately equal to my age 70 benefit.

Hi,

Yes, if your wife's full retirement age rate (PIA) is higher than your own PIA when she starts drawing her benefits then you should be eligible for some spousal benefits in addition to your own benefits. However, you would still be stuck with any reduction for age that you take for starting your own retirement benefits early.

For example, say Bob files for his retirement benefits at age 62. His full retirement age rate (PIA) would be $800, but he receives a reduced rate of $600 for starting early. Bob's wife files for her benefits after Bob reaches full retirement age (FRA), and her PIA is $2000. Bob's spousal rate would be determined by subtracting his PIA from 50% of his wife's PIA, which would be $200 in this example (i.e. $2000/2 - $800). This $200 spousal benefit would then be added to Bob's reduced retirement rate of $600 to give him a combined benefit amount of $800.

Before filing, you and your wife should strongly consider using our maximization software to compare your options and determine your best overall filing strategy.

Best, Jerry