my wife was born 3/25/60, my birthday is 11/18/54. i have maximized my SS payments for the past 30 years, my wife has made significantly less. I am thinking of taking my benefit on 04/2022. and have my wife file for her spousal benefit at the same time. My benefit amt is $3200/month at that point her spousal is $1598 (according to the SSA detailed calculator). My wife's benefit if she waits until 70 is only $1450. I believe her spousal benefit is not reduced if she takes it at 62. Is that correct? So we get a total of $4800 beginning in April 2022 until I die at which point she files for her widow benefit and gets my $3200/month. DO i have this correctly thought out? does it make sense.

Hi,

It sounds like you're mistaken about a couple of things. First of all, your wife's spousal benefits would indeed be reduced for age if she starts drawing them at age 62, and she would also be deemed to be applying for her own retirement benefits when she files for her spousal benefits. What she would then end up getting is essentially the higher of her retirement rate or her spousal rate, and whatever rate she receives would be reduced for age.

Furthermore, it sounds like you're overestimating your wife's spousal rate. Even if your wait past your full retirement age (FRA) to file for your benefits, her unreduced spousal rate would be based on 50% of your full retirement age rate, or primary insurance amount (PIA).

Therefore, if you anticipate receiving a benefit rate of $3200 starting at age 67 & 5 months, that would indicate that your PIA would be about $2874. If that's accurate, your wife's maximum spousal rate at her FRA would be $1437 (i.e. $2874/2), and if she starts drawing at age 62 that amount would be reduced by somewhere between 30% & 35%. You are correct, though, that regardless of when your wife files for her retirement and/or spousal benefits, if you die before her and she is at least FRA at that time her total rate as a survivor would be equal to your full benefit rate inclusive of any delayed retirement credits that you earn by waiting past FRA to start drawing your benefits.

You and your wife should definitely consider using our software to do your Social Security planning. The software will not only provide you with the most accurate possible estimate of the benefit rates that you and your wife can expect to receive, but will also analyze all of your various filing options so that you can choose the best possible strategy.

Best, Jerry