Ask Larry

I am 64 and 3 months and stopped working in 2012 with no plans to return to work. My wife's benefits are mores than mine. she is 60 and I want to use restricted benefits option.
if I file now spousal benefit now , will benefit on my account continue to grow.
Do I have to wait for 66 to file restricted benefits
Anything else I should know?

Hi,

No. You can't file a restricted application for spousal benefits only until you are full retirement age (FRA), and your spouse must be drawing her benefits in order for you to receive spousal benefits. If you file for reduced spousal benefits before FRA, you'll be deemed to have also filed for reduced retirement benefits on your own record.

In some cases it may be advantageous for one spouse to file for reduced retirement benefits in order to allow their spouse to receive spousal benefits, however, that would depend on their relative benefit rates. You should strongly consider using the maximization software available on this website in order to determine the best overall filing strategy for you and your wife.

Best, Jerry