many of us who are hitting SS age but don't need the money right now have a very interesting option not known by all.
If you to wait until you're 70 and get the max you can possibly get you can still apply and get HALF of your spouses full Social security payment, without touching yours.
So if you can get say, $2,500/ month now but want to wait until you're 70 and get $3,500/ month or whatever the max is then, you can have your spouse (husband or wife) take their Social Security now, (assume it's a lower number like $2,000/month) and you can apply for half ($1,000/month) and let your SS continue to grow until age 70.
So you're combined SS would be $3,000/month now and at age 70, assuming you're at max or close about $5,500/month.
So, if you're 66, you would get a 'free" $1,000/ month for the next 4+ years without effecting your final tally.
This assumes you actually get SS when it's your turn.
Amazing how many of my "SMART" friends didn't know this.
If you to wait until you're 70 and get the max you can possibly get you can still apply and get HALF of your spouses full Social security payment, without touching yours.
So if you can get say, $2,500/ month now but want to wait until you're 70 and get $3,500/ month or whatever the max is then, you can have your spouse (husband or wife) take their Social Security now, (assume it's a lower number like $2,000/month) and you can apply for half ($1,000/month) and let your SS continue to grow until age 70.
So you're combined SS would be $3,000/month now and at age 70, assuming you're at max or close about $5,500/month.
So, if you're 66, you would get a 'free" $1,000/ month for the next 4+ years without effecting your final tally.
This assumes you actually get SS when it's your turn.
Amazing how many of my "SMART" friends didn't know this.
