Hi Larry, I turn 65 in December and plan to start drawing social security in June 2022. I stopped working completely in January 2020 so I know there will be a reduction in benefits. My question is about benefits for my spouse. She doesn’t have enough credits to claim social security on her own and assuming she outlives me what risk is there for her that my benefits will be significantly less than while I’m living. When should she file for spouse benefits if she is eligible?

Hi. You don't mention your wife's age so I don't know what her options are with regard to spousal benefits. Your wife can't collect spousal benefits at least until you start drawing your benefits, and she needs to be at least age 62 to be able to qualify for spousal benefits. If your wife starts drawing spousal benefits at her full retirement age (FRA) her spousal rate will be equal to 50% of your primary insurance amount (PIA). A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at FRA. But, if your wife starts drawing spousal benefits at age 62 her rate could be reduced by as much as 35%.

If you start drawing your benefits in June 2022, it sounds like you'll be paid roughly 94.4% of your PIA. Your wife's potential widow's rate would also then be limited to no more than roughly 94.4% of your PIA. If on the other hand you waited until age 70 to start drawing your benefits, your benefit rate would be equal to roughly 129.33% of your PIA, and your wife could receive up to that full amount as a widow.

Regardless of when your wife starts drawing spousal benefits, as a widow she could still be paid up to the full monthly rate that you were drawing at the time of your death as long as she's at least FRA at that time.

You and your wife should 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