Why to Delay Social Security Benefits if You’re Married
Katie Brockman explains the usual benefits of waiting past age 62 up to age 70 before starting Social Security benefits. But, as she states, if you’re married, there’s one compelling reason to consider waiting until age 70. After a death, widow(er)s may be entitled to survivors benefits. Often, the surviving spouse could receive the deceased person’s entire benefit amount. That means if you delay benefits until age 70 to collect as much money as possible, your spouse could continue receiving those larger checks even after you pass away (and vice versa) which could have a significant impact on the surviving spouse’s retirement income, especially if he or she is living primarily off of Social Security benefits. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.