I am married and 3 years younger (54) than my spouse (57) and also the higher income earner. My question is simple but complicated. She wants to retire and start collecting SS as soon as possible (62). What is the best and optimal way to file. Can she drawn upon my benefits since I'm the higher earner even though I am also the younger of the two. I've seen it the other way but not this way. Thanks for any advise.

Hi,

Your wife can't qualify for spousal benefits at least until you start drawing your benefits. And, if she files for her own benefits at age 62, your wife will be stuck with the resulting reduction for age that would be applied to her benefit rate for as long as both of you are living. That's true even if she qualifies for spousal benefits after starting her own benefits.

For example, say Mary files for her Social Security retirement benefits at age 62. Mary's PIA is $800, but Mary's benefit rate is reduced for age to $563. Several years later Mary's husband applies for his benefits, and his PIA is $2000. Mary's unreduced excess spousal benefit would then be calculated by subtracting her PIA from 50% of her husband's PIA, which in Mary's case amounts to $200 (i.e. $2000/2 - $800). If Mary is at least full retirement age (FRA) when she becomes eligible for the spousal benefit, she would then be paid the unreduced excess spousal amount of $200 in addition to her own reduced rate of $563 to give her a combined rate of $763. But, if Mary becomes eligible for spousal benefits prior to FRA, her spousal rate would also be reduced for age.

You and your wife may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry