NoMoreJob
Recycles dryer sheets
- Joined
- Feb 8, 2012
- Messages
- 410
They don't make it easy to figure out do they.? In it's short form if you have a spouse collecting a spousal sometime the "regular" thinking on SS doesn't apply. In your case it makes more sense to wait since even at 70 your DW will be only 62 so she's not forgoing any spousal checks while waiting for you to turn 70.
Yes, and I want her to have the greatest guaranteed and COLA adjusted income she can after I die and until her death. We can afford to forego SS until I reach 70 (and then she reaches FRA) and Social Security will be our sole 'pension' unless we or she chooses to purchase a SPIA (single premium immediate annuity) at some point.
It is somewhat complicated but understanding the nuances can certainly be beneficial or at least prevent regrets down the road if you learn too late that you missed out on a better opportunity.