I realize you have a question about social security. My goal is to help you better understand your options.

Thank you for your question! I would love to assist you today. Let's go through your issues one at a time

1) Yes, you can apply for a spousal benefit based on your wife's earnings record and delay receipt of your own benefit until age 70.

2) Yes, your wife can switch from her own benefit to her spousal benefit, which would still be a reduced amount. Here's an example to answer question 3.

3) Let’s say the wife’s Primary Insurance Amount (PIA) is $1,000. She files for her own benefit at 62 and receives a reduced retirement benefit of $750.

Her husband has a PIA of $2500. She is eligible to receive one-half of his PIA at her full retirement age. $2500 (his PIA); divided by two, that equals $1,250 (This is the full spouse’s rate). We will subtract the $1250 (the full spouse’s rate) – $1000 (her PIA)= $250.

Social Security will add that $250 to her reduced retirement benefit amount of $750 and her new benefit amount at full retirement age will be $1,000, which is less than the full spouse’s rate, but still more than she was receiving in the past.

So, it's not a percentage formula. I'm sure you could drop in your amounts into that example and calculate what your wife will get upon retirement.

4) The maximum benefit right now paid for someone at full retirement age is $2,513. SOURCE If you retire at age 70, your benefit will increase by 8% each year you delay your retirement. SOURCE Four years of 8% increase is 32% increase. Therefore, the maximum benefit, provided your earnings record supports such figures, is $3,317 (2,513 x 1.32)

I hope this answers your questions. I have provided links to the maximum social security rates.

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