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PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4623
Experience:  35 years tax and professional advice in all matters money
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I am going to retire at the age of 66 this coming January.

Customer Question

I am going to retire at the age of 66 this coming January. My wife will be 63 when I retire and she is about to lose her job as her company is shutting down. Question: If I draw my social security benefits will my wife be able to draw the spousal part of my social security benefits and let her own social security benefits grow?
Submitted: 2 years ago.
Category: Social Security
Expert:  PDtax replied 2 years ago.
Hi from Just Answer. I'mCustomer and can assist. The strategy could work for you, but has to wait until you file for social security. Then she can file for spousal benefits. her benefit will be 50% of yours, reduced for early claiming of 20% or so.
Expert:  PDtax replied 2 years ago.
The second portion works as well. At age 70, your spouse can then claim her own benefit, which has grown at 8% per year from full retirement age to age 70.
Expert:  PDtax replied 2 years ago.
Thanks for asking at Just Answer. Positive feedback is appreciated. I'mCustomer