Hi Larry,
I'm 64 yr old (9/17/1957) , currently employed and planning on working until I'm 70. My wife is 5 years younger (6/30/1962). At my full retirement age (66-1/2), ssa.gov estimates my benefit at $3,321. At age 70, my estimated benefit is $4,292. My question is more of a claiming strategy for my wife, who stayed home and raised a family and has earned little income over her lifetime. When would you recommend she start taking her social security benefit? Age 62? Age 67? or 70? Will she get 1/2 of my benefit of $3,321 if she waits until she is 67, or could she get 1/2 of my benefit of $4,292 at her full retirement age, or would she need to wait until she turns 70?
Thanks for helping us understand the nuances of these claiming strategies!

Hi. I assume you mean that your wife isn't insured for benefits on her own record. Your wife can't qualify for spousal benefits at least until you start drawing your benefits. The most that she could get as a spouse while you're living is 50% of your primary insurance amount (PIA). even if you wait until age 70 to start drawing your benefits. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA).

Therefore, your wife wouldn't want to wait past her FRA to start collecting spousal benefits. She couldn't get any more than 50% of your PIA even if she waited until age 70 to start drawing. Your wife could start drawing spousal benefits as early as age 62, but if she starts drawing prior to FRA her rate will be reduced for age. Her spousal rate if she starts drawing at age 62 would be roughly 32.5% of your PIA, instead of the 50% of your PIA she'd receive if she waits until her FRA to start drawing.

Regardless of when your wife starts drawing spousal benefits, though, if you wait until age 70 to start drawing your benefits and if your wife is at least FRA at the time of your death, she would receive your full age 70 rate as a widow.

You and your wife may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of your options so that you can determine the best overall strategy for maximizing your benefits.

Best, Jerry