Q & A
Can a stay at home dad collect from wife’s benefits, even though they may be divorced?
More on the question: The wife is the primary wage earner and the husband quit his work to take care of the kids. Husband is 62 and wife is 57. The husband’s best option is to wait until his wife reaches 62 and can start collecting retirement benefits, and you have been divorced for two years (assuming you were married for at least ten years). At this point, the husband can apply for spousal benefits. When the husband reaches age 70, he can apply for his full retirement benefits, which will be 32% greater than what he would have received at his full retirement age at 66. For the wife, her best strategy is to do the same, except she should start her full spousal benefit at age 66 when she reaches full retirement age.
Source: Ask Larry Kotlikoff, PBS. AMAC Note: Certified Social Security Advisers and Financial Advisers can provide more strategies depending on the couple’s health and financial situation.