From Yahoo Finance: 2025-05-12 08:00:00

At age 57, planning to retire at 66, you can collect full Social Security benefits of $3,653 per month. Your wife can collect half of your benefit, but delaying her own benefit could increase it beyond $1,826. Consult a financial advisor for a personalized retirement plan integrating Social Security benefits.

Your full retirement age is 67, so filing at 66 would be early, reducing benefits by 6.7% per year. Delaying until age 70 could increase benefits by 24%. Your wife can collect spousal benefits based on your record, but filing early may result in a 35% reduction in benefits.

Your wife can choose to claim spousal benefits early, but this may affect the amount she can receive later on her own record. Filing for one benefit does not automatically trigger the other; she must file separately. Consider working with a financial advisor to develop a comprehensive Social Security and retirement plan.

Filing before full retirement age and continuing to work may reduce benefits due to earnings limits. Consult a financial advisor to understand the impact on your cash flow and consider factors like life expectancy and income needs when deciding on the best filing strategy. SmartAsset’s free tool can match you with vetted financial advisors to help you make informed decisions.

Read more: Can My Wife Collect Social Security on My Earnings Record and Switch to Hers at Age 66?