Originally Posted by Katsmeow
<snip...>So from my standpoint, the idea of a female of my generation not having enough work history to make more from her own benefits just seems very uncommon to me. But, from this forum, I do often see people saying that a spouse will get more from spousal benefits).
Well, here's a case where DW will be getting less
in spousal benefits, but will still claim them starting next year.
We're the same age (within a few months) and we both reach FRA in 2014.
I'm going to file/suspend before my DW's FRA age, reached in May. That will allow her to get 50% of my FRA benefit (via a restricted application), which is a few hundred $$$ less
than her FRA benefit.
However, in four years she will be claiming her SS age 70 benefit which will give her $600/mo. more than her FRA payment. Remember, she will be getting DRC's of 8%/year (32% more for a 4-year delay) plus any accumulated COLA's.
We're going for the long term view of total SS returns with a breakeven point of age 78 for both of us. Of course, we really don't believe in breakeven points. Money is for the living, not the dead. We're just trying to proceed with the best plan (for us) that will allow us to maximize SS, assuming one/both are still alive.
And if I die first? (probably will..); assuming we get to age 70 (in four + years), her survivor benefit will be just under $1k/month higher than her age 70 benefit, based upon my age 70 SS.
We're taking the course of "a little SS now, a lot more SS later" as suggested in a personal plan supplied by Social Security Solutions