I'm using a program that optimizes SS and I don't understand something its doing.
It says I should take SS at age 70. I get that. That amount is $40,200/yr in today's dollars and it matches the SS estimate.
It says my spouse should take hers 2 years later when she's 67. Her amount is $12,768/yr. That matches her SS estimate.
But then it says she gets something called a "spousal benefit" at that same time of $3,665/yr.
I don't get that. Is that a real thing?
It says I should take SS at age 70. I get that. That amount is $40,200/yr in today's dollars and it matches the SS estimate.
It says my spouse should take hers 2 years later when she's 67. Her amount is $12,768/yr. That matches her SS estimate.
But then it says she gets something called a "spousal benefit" at that same time of $3,665/yr.
I don't get that. Is that a real thing?