I realize you have a question about social security. My goal is to provide you with excellent service, and help you better understand your options.
How are you doing today?
The method you are talking about is "file and suspend" - and it's only available once you reach full retirement age
You cannot file and suspend prior to reaching your full retirement age.
How it works is that you open up your record by applying for benefits, your spouse applies for spousal benefits, and then you suspend your payments.
So, it would have to wait until I reach 65 then?
She draws 1/2 of your benefit, yours grows to its max at age 70
Actually, it's 66
66 right, typo
Yes, you would need to wait until 66
and she would be eligible for 50% of mine benefit, therefore only of value for us if her payment today is less than 50% of mine.
That is correct. This is only a valuable tool if the other spouse has a lower benefit than 1/2 of the wage earners
okay, I got it. It would help us a little but it is 2 years away and just a little more than she receives today. but thank you for clearing it up.
Is there anything else I can help you with?
If not, please rate as "excellent" so that I may receive credit for assisting you today
No, I think we're good. Yes, I will.
Thanks so much!