Q & A
What’s the most effective way for a married couple to take Social Security benefits to maximize the survivor benefit and also receive income early?
Answer: If you need income as soon as possible, one strategy to follow is for the lower-earning spouse to file for a reduced benefit at age 62 on that individual’s work record and the higher-earning spouse to wait until age 70 for maximum benefits based on the higher earner’s own work history. When the first spouse dies, the surviving spouse can opt to receive the larger of the two spouse’s benefits for the remainder of retirement. Read more.
Source: http://individual.troweprice.com - September 14, 2013
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.