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T. Rowe Price
How should couple with age gap tap Social Security spousal benefits?
How should couple with age gap tap Social Security spousal benefits?

Dear Liz: I am 55 and my wife is 65. She only worked a few part-time jobs as she spent most of her working years raising our nine beautiful children. My question is, since she does not have enough credits to collect Social Security on her own work record, can she claim spousal benefits on my work history? If so, at what age and how will it affect my benefits? Answer: Your wife can receive spousal benefits based on your work record, but those checks can't start until you're old enough to qualify for benefits at age 62 (when she's 72). If you apply at 62, however, you're typically locked into a check that would be about 30% smaller than what you'd get if you waited...

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