Originally Posted by Bir48die
So I have a question... As is I am planning on doing SS at 66.2. I am 60. If I take at 62 it will be $1,900 or so per month (hers will be $1,400/mth in January of this year). If I take at full retirement it will be approximately $2,600/month.
Conventional wisdom says wait for full SS so if I croak first she gets higher benefit. I see that logic. However in our case she has taken a lower pension so I can be a beneficiary if she croaks. If I go first her pension will increase approximately the same amount as the difference in SS amounts ($550/mth or so). In addition she'll pick up approx $1,100 per month tax free from Veterans from her late husband so a total of $1,650/mth after me taking early SS.
Do I take early or full? Some depends on market and if I want to keep 401K's alone (approx $1.85 million as of today).
Conventional wisdom? Many would say waiting until 70 to start SS is better for maximizing survivor benefits.
It looks like you have a lot going for you, so the real question is what do you want to optimize? Survivor benefits (both ways)? Income over time? Lower taxes at RMD time?
In sort, what is important to you?