Question: I saw your PBS Newshour interview about spousal benefits. I earn less than my spouse, and I turned 66 in August. My spouse turned 66 earlier this month. Are we better off if the higher wage earner applies and suspends, with the lower wage earner applying for spousal benefits? If the wage differential doesn’t matter, could I even apply now, since it has been just over six months since I turned 66?
Answer: Yes, in your case, since you are so close in age, the higher-wage-earning spouse should file and suspend and the lower-wage-earning spouse should file just for her spousal benefit. So in your case, your husband needs to file and suspend. You definitely do not want to file on your own account until age 70. If you do, you’ll plunge into excess benefit hell and collect just your excess spousal benefit, which could easily be zero. So your husband files and suspends, and you file just for your spousal benefit (this is called a restricted application). You both take your retirement benefits at 70.
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