My husband and I both just turned 66 born both in 1953 so we are at our full retirement age. I am not working (wife) but my husband is and plans to work until age 70. I was thinking I should start taking my social security which would only be about $800.00. My husband should get $2,600.00 if he was to collect his social security now. He wants to wait until age 70 to collect about $3,200.00. If I collect mine know and then I understand I can get 50% of his FRA 2,600. (half would be $1,300.00) when he retires at age 70. Is this the smart thing to do. Can my husband collect anything know without messing with his plan to work until age 70. If he passes after 70 I can collect the full 3,200.00...right? Thanks for any advise.

Hi,

If the benefit amounts cited in your question are accurate, then yes it would almost certainly be to your advantage to start drawing your Social Security retirement benefits now. In fact, you should likely also claim your benefits retroactive to the month you reached age 66, although if you reached age 66 more than 6 months ago you could only claim 6 months of retroactive benefits. And yes, when your husband files for his benefits you could get additional spousal benefits that would bring your total benefit rate up to 50% of his full retirement age rate, or primary insurance amount (PIA). And also yes, if your husband waits until age 70 to start drawing his Social Security retirement benefits and he subsequently dies before you, your spousal benefits would convert to widow's benefits bringing your total benefit rate up to 100% of your husband's age 70 rate.

Furthermore, since your husband was born prior to January 2 1954, if you start drawing your benefits now your husband could file a restricted application for spousal benefits only, which would permit him to receive 50% of your PIA until he files for his own Social Security retirement benefits. Drawing spousal benefits would have no adverse effect on your husband's future retirement benefit rate. Your husband could also claim the spousal benefits retroactive to the later of a) your first month of entitlement, or b) the month he turned age 66.

Although the filing strategy outlined above appears to be your most advantageous option based on the limited information in your question, you should strongly consider using our software to compare all of your filing options so that you can be sure to choose the best possible option.

Best, Jerry