I am receiving a spousal benefit based on my wife's benefit. I turn 70 in December of this year. If I elect a lump sum for the previous six months will it be smaller because I have been receiving the spousal benefit?

Hi,

Yes, you can't be paid both your own benefits and your spousal benefits for the same month(s). Therefore, if you elect to start your own benefits retroactively, the spousal benefits you've already been paid for those months will be deducted from your back pay.

Furthermore, if your own benefit rate is higher than your wife's rate and if you elect to switch to drawing your own benefits prior to age 70, the lower monthly rate you'll receive as a result will also apply to your wife's survivor rate if you die before her. Before deciding when to switch to your own benefits, you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to compare your options so that you can choose the best possible strategy for maximizing your benefits.

Best, Jerry