Spousal Benefits SS Understanding

[BooBoo]

I am trying to understand social security application process.

Here is my situation:

I have not yet claimed social security, and I am now passed FRA. I was planning on waiting until age 70 in June. My wife who is older than me has already started social security at her FRA. She is the lower earner.

According to open social security I should already have filed. I have waited because we are currently in good health and was hoping to maximize her survivor benefits. Hindsight will tell if this is the optimum choice.

I have checked the social security website and plan to contact social security directly via telephone and or in person soon. The clock is ticking and trying to figure out the process in anticipation of turning 70. I figure I have 4 months prior to making a decision on how to proceed.

The scenarios as I see them are:

• 1) Claim at the beginning of the year I turn 69 and a half. Wife would subsequently apply for spousal benefits.
• 2) Claim in March, April, or May prior to age 70 and wife would subsequently apply for spousal benefits in June? (Assumes spousal application process would timely)
• 3) Claim at FRA in June and wife would subsequently apply for spousal benefits
• 4) Claiming now is always on option.

My concern with option 1 is that I would prefer waiting until 70, I waited this long, what is another six months.

My concern with option 2 is that I would prefer not having deferred social security benefits.

My concern with option 3 is that We could lose out some of my wife’s spousal benefits because she cannot file for my benefits until after I file? Would we lose several months of her benefits?

I may have missed it, but it does not appear easy question to answer on social security website (FAQ and SSA blog).

Any insight is greatly appreciated.

Boo

 

[MissMolly]

Personally, I would just wait until 70 so you can maximize your benefit and also your survivor benefit if you predecease your wife.

In regard to your wife filing for spousal, is 1/2 your full retirement age benefit (age 66 benefit, not age 70 benefit) more than she is currently receiving? If no, then there is no spousal benefit available to her. She would already be receiving her maximum benefit.

 

[Time2]

I had trouble following, I can't tell if you are 66 going on 67 or 69 going on 70. You can apply 4 months before you want start SS.
You can apply 4 months before your 70th birthday, you will receive your first check 1 month after your birthday. Is you wife's SS less that 50% of your check, otherwise she would not want to collect on yours before you die.

 

[Koolau]

Personally, I would just wait until 70 so you can maximize your benefit and also your survivor benefit if you predecease your wife.

I

This is primarily why I waited until 70 - to increase DW's survivor benefit.

 

[RetiredHappy]

I had trouble following, I can't tell if you are 66 going on 67 or 69 going on 70. You can apply 4 months before you want start SS.
You can apply 4 months before your 70th birthday, you will receive your first check 1 month after your birthday. Is you wife's SS less that 50% of your check, otherwise she would not want to collect on yours before you die.

The question is not whether wife's SS is less than 50% of OP's check, but rather is it less than half of OP's FRA (66?) PIA amount.