My husband is 64 (born 9/53 & "grandfathered"), retired, but not on Social Security yet. He can wait until 70. His PIA is slightly more than double mine. I am 63 (born 12/54 and NOT "grandfathered"). I can cut back my hours to make about $12,000 if I start taking Social Security now. (I can cut back to $0 once I hit 65 and go on Medicare). Should I file for mine now? Can I change to Spousal when my husband hits 70? Can my husband claim Spousal at 66 and collect his at 70? Or is it better for me to wait until 66 or 70? I have scheduled an appt to go in to file in 2 weeks.

Hi,

When to start drawing your benefits is a personal choice, but it sounds like you may want to at least consider filing for your benefits when your husband reaches age 66 so that he can start drawing spousal benefits only on your record at that time. And yes, you could then file for spousal benefits on your husband's record when he switches to his own account at age 70, but you would only be eligible for additional spousal benefits if 50% of your husband's full retirement age rate (PIA) is higher than your own PIA.

You can file sooner than when your husband reaches age 66, but you will then be stuck with a lower benefit rate for as long as both you and your husband are living. Your spousal benefits (if any) would not replace the reduction in your own benefit rate if that's what you had in mind.

For example, say your PIA is $1000 and you file for your benefits this month at age 63 & 5 months. Your benefit rate would then be reduced to roughly $827. If your husband then filed for his retirement benefits at age 70 and his PIA was $2000 or less, you would not receive any spousal benefits because 50% of his PIA would not be higher than your PIA.

Before you go in for your appointment, you may want to strongly consider using our maximization software to compare all of your options in order to gauge the probable long-term effects of your decision as to when to start drawing your benefits.

Best, Jerry