Q & A
I will be 62 in December and plan on drawing my Social Security while working as a consultant. My wife is 30 and not working. Can she ever get benefits through me? Should we have a baby? Adopt?
Answer: Your wife can receive spousal benefits before age 62 if she has your child (either via natural birth or legal adoption) in her care and if you have applied for and are receiving your retirement benefit or if you suspended your retirement benefit.
You can’t suspend, however, until you are at full retirement age. But by not taking your own retirement benefit at 62 and waiting until 66 (your full retirement age) to file and suspend, you can permit your wife and children to collect their spousal and child benefits without being forced to take a reduced retirement benefit. Indeed, under this strategy, you could wait until 70 to collect your highest possible retirement benefit.
Source: Ask Larry Kotlikoff, PBS.