My wife is 18 months younger than me. I am eligible for 100% benefits at age 66 and 2 months. Can she apply for and receive 50% of my rate when I apply or must she wait until she reaches her 100% rate later on?

Hi. Spousal benefits are reduced for age if the person receiving spousal benefits starts drawing them prior to their full retirement age (FRA). So, if you start drawing your benefits at FRA and if your wife starts drawing spousal benefits before she reaches FRA, she wouldn't get a full 50% of your benefit rate.

You don't mention whether or not your wife is eligible for Social Security retirement benefits based on her own earnings history, but if she is then that would affect the amount of spousal benefits that she could be paid. If a person born after January 1 1954 is eligible for both their own benefits and spousal benefits, Social Security pays their own benefit first plus an excess, or partial, spousal benefit.

For example, say Amy filed for her benefits in 2018 at age 62. Amy's primary insurance amount (PIA), or full retirement age rate, would be $800, but Amy's rate is reduced for age to $590. This year, when Amy is 64, her husband applies for his benefits. Amy's husband's PIA is $2000, so Amy's unreduced excess spousal rate is calculated by subtracting her PIA from 50% of her husband's PIA. In Amy's case, that amounts to $200 (i.e. $2000/2 - $800). However, since Amy is only 64 when she becomes eligible for spousal benefits her spousal rate is reduced to $161. That amount is then paid in addition to Amy's own reduced rate of $590 to give her a combined rate of $751 (i.e. $590 + $161).

It sounds like 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