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Is There A Good Reason For My Wife To Wait Until Her FRA To File?
When should my wife file for SS benefits?
I am planning on taking SS beginning in Jan 2023, which is a couple of months before I turn 68. My wife is 2 years younger than me and her benefit based on her work record is a little less than what her spousal benefit would be. Is there a good reason for her to wait to file until her FRA in Nov, 2023 rather than filing when I do in Jan, 2023?
Thank you.
Hi. Claiming benefits 10 months prior to full retirement age (FRA) would cause your wife to receive a monthly benefit rate that's somewhere between roughly 5.6% to 7% lower than her FRA rate for as long as both of you are living. Whether or not you'd consider that to be a good reason for waiting is largely a matter of perspective.
The exact percentage difference between your wife's benefit rate in January 2023 vs. November 2023 depends on how close her primary insurance amount (PIA) is to 50% of your PIA. And, those two options certainly aren't the only ones that your wife should consider. You and your wife should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully explore all of your various options so that you can make a fully informed decision on when each of you should claim your benefits.
Best, Jerry