When to take SS

[Gunny]

Guys, need some input. I will retire at 56 but want a good SS income strategy to maximize my overall retirement strategy and make sure DW has the most survivor bennifits. DW does not work outside of our home. The numbers:

My monthly benefit at 62 will be 1580, at 67 it will be 2200 and at 70 will be 3000.

DW's monthlies are 500 at 62, 700 at 67 and 900 at 70.

How should we file to some income when DW turns 62 but max out her spousal/survivor benefit.


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[Jager]

Not sure what you mean by "... file some income when DW turns 62..."

Regardless, your DW's spousal/survivor benefit is simply your benefit (if higher than hers), upon your death. So to maximize that spousal benefit, you wait until 70 to claim.

[pb4uski]

When the time comes, check out socialsecuritysolutions.com

Your situation is similar to mine in that my DW has a much lower PIA because she was a SAHM. In my case, DW is about 9 months older. Our plan is to have her take her PIA at her FRA for 9 months, then I'll file and suspend at my FRA and her benefit will be bumped up to her spousal benefit based on my work record and then I'll claim at 70 so if I predecease her she will continue to receive my higher benefit.

If somehow the investment results are poor, we can always start if we want anytime after 62.