Social Security retirement filing strategy at FRA - husband filing now, wife waiting until 70?

You're correct about the earnings limit - once you reach your Full Retirement Age (FRA), there is NO limit on how much you can earn while receiving Social Security retirement benefits. The earnings test only applies before FRA. Regarding spousal benefits, it sounds like you're asking about claiming on each other's records. Here's how it works: When you file for retirement benefits, your spouse can potentially receive up to 50% of your Primary Insurance Amount (PIA) as a spousal benefit IF that amount is higher than their own retirement benefit. However, since both of you have substantial benefits on your own records, spousal benefits likely won't increase either of your payments. Your strategy of having one spouse claim at FRA while the other waits until 70 is often recommended by financial planners. It provides some income now while maximizing the higher earner's benefit, which becomes the survivor benefit when one spouse passes away. One thing to consider: Has either of you looked into filing a restricted application for spousal benefits only? This option was eliminated for most people by the 2015 law changes, but people born before January 2, 1954 (which you both were) can still use this strategy.

In your situation, the restricted application strategy might actually be worth looking into! Since you both were born before January 2, 1954, this could work well. Here's how: - You file for your retirement benefits at FRA - Your wife files a restricted application for SPOUSAL benefits only (she'd get 50% of your benefit while letting her OWN benefit continue to grow until 70) This way, you'd get your $2,071/month, and she'd get around $1,035/month (50% of your benefit) while her own benefit grows to $2,532 at age 70. When she turns 70, she switches to her own higher benefit. You're absolutely right about the earnings test - at FRA there are NO limits. You could make $200,000 next year and still get every penny of your Social Security benefit. That's one of the big advantages of waiting until FRA to file! And when one of you eventually passes away (hopefully many years from now), the surviving spouse will receive the higher of the two benefits as a survivor benefit. That's another reason why having at least one spouse wait until 70 is a smart move.

Just wanted to 2nd what others are saying - you wont lose ANY benefits if you work after FRA, no matter how much $$ you make. My brother started his SS at 66 last yr and still works full time making about 85k, gets his full SS payment every month. But calling SSA to ask about that restricted application thing could take FOREVER. I tried calling them about a different issue last month and spent 3 hours on hold before getting disconnected. So frustrating!!

YOUR WIFE SHOULD ABSOLUTELY FILE A RESTRICTED APPLICATION!!! This is one of the last great "secrets" in Social Security planning and most people miss out on it. The government tried to eliminate this with the 2015 law but people in your birth year were grandfathered in. I did this exact strategy with my wife last year. I filed for my regular benefit, she filed restricted for spousal only (got half my amount) and is letting her own benefit grow until 70. We're getting an extra $15,000+ over 4 years this way that we would have missed if we didn't know about this! Just be prepared when you go to the SS office - MANY of their employees don't understand this rule or will tell you it's not possible. You may need to speak with a supervisor or bring the actual rule in writing. Don't give up!

um i think some of yall are confused about this restricted app thing?? my mom tried this and they told her it only works if you were born before 1954 AND you haven't filed for your own benefits yet. if you already filed for your own retirement you can't do it. just saying so nobody gets disappointed

I looked more closly at your numbers, and if your wife can get half of your benefit while letting hers grow, she'd get about $1,035/month now PLUS her full benefit of $2,532 at age 70. Thats potentially an extra $50,000+ over 4 years that SSA definitely won't volunteer information about!!! BTW, I tried calling SSA about this FIVE TIMES and got disconnected each time before using Claimyr to get through. The rep who finally helped me actually had to go ask a supervisor about the restricted application because she wasn't familiar with it. Don't assume the first person you talk to knows about this option!

To answer a few questions that have come up in this thread: 1. Yes, the restricted application strategy is absolutely still available, but ONLY for people born before January 2, 1954. This was specifically preserved when Congress changed the rules in 2015. 2. For someone using this strategy, there is NO earnings test after FRA. So the wife in this scenario could continue working full-time with no reduction in spousal benefits as long as she's at or past her FRA. 3. To file a restricted application, you would specifically need to state that you are "restricting the scope of your application to spousal benefits only." This exact language is important. Form SSA-1-BK is used, but the key is making that specific restriction clear. 4. This works because of a provision called "deemed filing" that was changed in 2015 but grandfathered certain birth years. For people born before 1954, deemed filing only applies before FRA. The OP's situation is actually a textbook case of when this strategy works perfectly.

One last point regarding your strategy: when you pass away (hopefully many decades from now), your wife will receive the higher of the two benefits as a survivor benefit. So by having her wait until 70 to claim her own retirement benefits, you're also potentially maximizing her future survivor benefit. This is especially important since women typically outlive men by several years. The restricted application strategy you're considering provides: 1. Your full benefit now when you need it 2. Extra spousal income for your wife while her benefit grows 3. A maximized benefit for your wife at 70 4. A maximized survivor benefit for your wife if you predecease her It's really an optimal approach for your birth years and situation.