Quote:
Originally Posted by Bugsinrugs
My advisor told me to take advantage of my wife taking her s.s. at full retirement age and me waiting until I am 70. When my wife applies for her s.s. I can apply for spousal benefits and I would get half the amount she gets. Supposedly my birthdate of 1952 is the last year that people can do this.
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Yes, that is filing a "restricted" application for spousal benefit only. They changed the law in 2015 to prevent anyone born after 1 Jan 1954 to do this...so you made it by over a year. You can take a spousal benefit at Full Retirement Age (FRA) which is half of your spouse's FRA benefit, when you reach FRA at 66. Spousal benefits max out at FRA, waiting longer does not add/help. You could file a “restricted” application, just for spousal benefits, at FRA; collect half of hers and then switch to our at 70 (assuming it is larger than half your wife's). Your own retirement benefits would continue to grow 8% a year until 70.
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