We are trying to maximize our benefits:
My wife will be 66 in June 2018, I wil be 66 in July 2018. My wife plans to file online this month (March) for full retirement benefits of $1619 beginning in June. My FRA is $1763. I plan to file a restricted application for spousal benefits in April 2018 and delay my retirement credits to age 70 in 2022. Is this still the best plan for us? Thank you!

Hi,

When you say that you plan to file for spousal benefits in April 2018, I assume you intend to choose July 2018 as your month of election for spousal benefits. If you choose to a month of election prior to the month you reach age 66 you would not be able to file just for spousal benefits without also filing for your own retirement benefits.

Assuming that's the case and assuming that your wife has decided to for her benefits at full retirement age (FRA) as opposed to waiting until age 70, then your plan to file a restricted application for spousal benefits only effective with your FRA sounds good. I can't say for sure, though, because what ends up working out best will depend on how long both you and your wife live, among other factors.

Before filing, you and your wife should strongly consider using our maximization software to compare all of your options in order to make sure that you choose the best overall strategy for both of you. Better safe than sorry.

Best, Jerry