I am 63 my wife is 58 and she did not work. She wants to collect at 62. Will she receive more if I do not start collecting age 63 and I wait a few more years before I collect.

Hi. Taking your benefits early wouldn't adversely affect your wife's spousal benefit rate while you're living, but it would limit the amount she could be paid as a widow.

If you start drawing your benefits at 63, for example, the most that your wife could be paid in the event of your death is the higher of a) your reduced benefit rate or b) 82.5% 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 full retirement age (FRA). On the other hand, if you were to wait until 70 to start drawing your benefits and if you subsequently die before your wife, she could get up 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 compare and analyze all of your various options so that you can determine the best overall strategy for maximizing your benefits.

Best, Jerry