I am 57 now. I am 5 & 1/2 years older than DW. My FRA is 66 yr 4 month; DW's FRA is 67. We both worked in similar IT jobs and worked exactly the same # of years so far, so our benefits would be similar if we both ER next year.
We both plan to file at 70 to receive reduced benefits due to ER.
I am trying to see if we could benefit from doing File and Suspend:
The Spousal Benefit Option for Social Security Benefits – Getting Your Financial Ducks In A Row
Is this below a doable scenario?
1. When I am 66 yr and 4 month, I file and Suspend.
2. A year later, when DW is 62, she files for spousal benefit and receives 1/2 of my benefit amount.
3. When I am 70, I file again and receive my benefit.
4. When DW is 70, she files for her own benefit.
The extra benefit we would be receiving is the spousal benefit that DW will receive for about 8 years.