Retirement SS question

[JohnS750695]

My wife and I have particular circumstances. I don’t understand exactly where we can get exploit certain social security advantages. My wife is 61, and I am 56. I am the main breadwinner at 115k per year. Wife makes 36k. While we love the idea of retiring and enjoying life, We only have about 350k in 401k so are inclined to keep working to acquire more $ before retiring. With her reaching retirement age significantly sooner than me, I don’t know if she should just plan to keep working until 70 or what advantages exist, allowing her to retire sooner. Someone was explaining something about how her SS benefits might receive credit for my greater income(?) I’m having a hard time formulating any kind of plan, and I think one with the knowledge of the SS laws could perhaps help.

[GailL1]

Since you are only 56, there is nothing that your wife can do to make you older - if she decides to retire, early at 62, at full retirement age of 67 or even at the delayed retirement age of 70, it is her decision.  

Then when you get to the age to retire - early at 62 or at full retirement age of 67 or even at the delayed retirement age of 70 - you have to decide when to do it.  At that time when you file for your retirement, you wife at whatever age would be able to compare her SPOUSAL benefits to her own benefits and receive the higher amount.  

YOU have to be retired for your wife to be able to get her Spousal Benefits.  

That’s where your age and her age have the differences in benefits.   Spousal benefits are, at most,  50% of the primary account holders PIA.  She can still get these once you retire even if she has been drawing her own benefits for awhile.  However, if she decides to start drawing her own benefits EARLY, and thus will get a reduction in her benefits - that same reduction % will follow her if she switches to her Spousal benefits after you retire.

[JohnS750695]

thanks, that actually answers the part i was unclear about