I know there are several threads and articles on the topic of how to optimize/strategize SS. I reach early SS eligibility this coming year so now I'm digging further into the details.
Two point I'm unable to find clear info on:
Once Ss commences cola is applied each year. However delaying SS does not track the colas applied in those years. Correct? How does this work in case of spouse who's SS is based on my work record? Will she always get 50% of my current SS paymenyt or do our payments diverge if cola is applied to my ss before she reaches 62?
If I wait and we commence ss at the same time (62) i assume her payment will be 50% of my early amount. Correct? There is no additional penalty for taking early ss?
Two point I'm unable to find clear info on:
Once Ss commences cola is applied each year. However delaying SS does not track the colas applied in those years. Correct? How does this work in case of spouse who's SS is based on my work record? Will she always get 50% of my current SS paymenyt or do our payments diverge if cola is applied to my ss before she reaches 62?
If I wait and we commence ss at the same time (62) i assume her payment will be 50% of my early amount. Correct? There is no additional penalty for taking early ss?