Originally Posted by gauss
If your spouse has been working a SS covered job all along then he will also likely have at least 1.5k/month in accrued benefits (under current law).
In our case I worked 22 years in an engineering position and have accrued $2,500/month if I defer until age 70. Spouse, who is still working, has accrued even more.
Of course these benefits can be changed by lawmakers at any time for any reason. I personally discount them by 1/3 to come up with about $40,000 /year in SS benefits starting at age 70 for the two of us in ~ 20 years.
Notice how I completely ignored the SS. My spouse will get a conservative SS check and I know they are suppose to average out your earnings so mine should still be somewhat reasonable having maxed it out for 18 years.. so I figure we will get some money, just not nearly what was projected.
However my big concern is really how to get from now to 65. My 401K won't be touched and should easily have $2M in it which by then won't be the same as now.. but still a heck of a lot more than most will have. I just figure if I pull the trigger too soon, I will be 60 and looking for a job not to touch my 401k...and that I don't want to do.