Wife is 64 1/2.
I am soon to be 63.
I have a much higher PIA (primary insurance amount) than she does, have been in higher paying field x decades.
We don't need SS payments anytime soon.
I had therefore presumed, wait to claim until 67 or even 70 for both of us.
Was unaware of the spousal benefit.
Per the Open Social Security calculator, best strategy for us is
1) wife starts receiving benefit immediately (is relatively small, but so be it)
2) I delay until age 70, at which point wife will be able to receive 50% of my monthly benefit.
The site provides a year by year accounting, confirming this as a best strategy.
Does that sound right?
I am soon to be 63.
I have a much higher PIA (primary insurance amount) than she does, have been in higher paying field x decades.
We don't need SS payments anytime soon.
I had therefore presumed, wait to claim until 67 or even 70 for both of us.
Was unaware of the spousal benefit.
Per the Open Social Security calculator, best strategy for us is
1) wife starts receiving benefit immediately (is relatively small, but so be it)
2) I delay until age 70, at which point wife will be able to receive 50% of my monthly benefit.
The site provides a year by year accounting, confirming this as a best strategy.
Does that sound right?
