So @bluebayou, I as the lower earner, should definitely wait until I’m 70 to file social security?
deb922
you should check out Maximize My Social Security.
It was originally recommended many many posts ago on this thread.
https://maximizemysocialsecurity.com/purchase
It can give you an analysis of the way to get the most SS $$ for you and your hubby.
The trouble with calculators is that it most depends on when you die. Everything else is a minor point. The calculator helps you decide to get more pennies while they are in the dark about whether you are getting more dollars. When I ran the calculator it said if I live till 90 or longer, doing A will be good while I’d be better off going with B if I die sooner than 90. Either way, the difference wasn’t all that great. I just went with the simpler way. I took care of the paper work and filed for it while my head is clear. I am getting worse as the years go by with paperwork.
deb:
actually, just the opposite. Assuming both in good health, generally the higher earner should wait until 70 since that will max spousal benefits.
Another good source to see how maximizing benefits is SSAnalyze at bedrock capital.com
I’m on T Mobile. It costs whatever (don’t have the bill in front of me) for me and my husband and additional lines are $10 each person month. 4GB. It may throttle but I wouldn’t know, I’ve never come close to the 4GB. It might make a difference that I’ve had T Mobile since 1998. The kids buy their own phones, as do we.
On the subject of Social Security, I took mine at full retirement age. By the time my mother was 70 she didn’t know what Social Security was. So I’ll take mine now, thanks.
Spousal benefit is calculated based on the amount at FRA not on the amount at 70 even if you spouse waits till then.
Lucky you folks who can do a spousal benefit. As a teacher in a state where we don’t contribute to SS…and are subject to the windfall and offset provisions…I can never collect a spousal benefit. My benefit right now is $203 a month. It would be $600 if not for the 2/3 reduction because of offset and windfall. And if I could collect a spousal benefit, I would get whatever the max is for spouses as my husband is a high income earner.
Oh well. It is what it is.
@thumper1, as a teacher, don’t get a defined pension?
I do wish I’d never had to contribute to social security, and had the foresight to invest those monies on my own. 40-45 years, most years at the max, invested would have been a large amount of money.
@cbreeze yes, I get a pension. I’m not complaining about my retirement benefits. I was just saying…some folks are NEVER entitled to spousal SS benefits.
I also worked in districts/states whether I DID contribute to SS for about 10 years.
““H was wondering if he should file for social security at 67 or wait until 70? If he waits, I think it was an extra $700 or $800/month.”” - Yes, I agree with above that you need to consider spousal factors. At a financial planning class, the instructor said he planned to defer as long as he could so that his younger wife (who did no have much earnings herself) would have higher SS after he was gone.
Me too, @thumper1 .
It feels wrong, but if you had worked in a SS state you wouldn’t get your SS plus your spousal benefit. It would be one or the other.
We ran Maximize my Social Security and it says I should take my meager (like $800/YEAR) benefit from SS jobs at one age so spouse can collect his half/meager benefit for the few years until he is 70 and his max benefit hits. Crazy.
I’m not sure it’s worth the paperwork to get maybe $1200/year?
On the other hand, that’s $1200.
How long will it take to complete the paperwork? Divide $1200 by the number of hours it takes to complete the paperwork. If it takes 5 hours, that is $240 per hour. I would think a lot of people would find it worth it for that. Especially if that 5 hours leads to $1200/year for multiple years.
If I can spend hours to eventually send money to the IRS, I would definitely spend a few hours to get $1200. 
Make sure you SS ref docs and software has recent rules. I suspect some of the old ways to maximize SS benefits might now work anymore.
Yes, I will probably file.
As for the SS break-even point, I assume it’s a straight comparison and doesn’t factor in what would happen if you collected early and invested the money.
We have been thinking about the SS dilemma too (spouse is nine years older, and could collect in two years). We are both pretty healthy, but each of us had a parent who died young.
- Bird in the hand theory. Take it when he hits 62, even though there is a reduced benefit. Take the money and use it for some current expenses, letting our investments grow. Takes most government changes out of the equation. My spousal benefit would be decreased, however, if I ever see it at all.
- Wait a few more years to FRA. More money from SS, and a bigger spousal benefit. In the meantime, have to spend down our own money. Run the risk of the government changing something. There is never any guarantee of grandfathering with the government.
Any retirement calculations we’ve done have ignored any SS benefit, so either way this is “found” money for us.
If only you knew when you would die, this question would be so much easier. 8-}
I’m curious that most posters seem to assume that the government won’t change a benefit once you’re receiving SS. I’m agnostic on the claim early vs claim late issue, but I’m not sure that claiming early will lock in a benefit if the government changes the rules.
My middle ground position is to claim early if you need the income and/or have reason to think you will die early.
Disclosure I claimed early for children’s benefit; DW will claim at 70.
@IxnayBob My assumption is that it would be political suicide to change a SS benefit that is already being collected. Not impossible, but I’d be hard pressed to find a politician willing to do it. It’s always easier to shift the burden to those who aren’t currently collecting.
They change welfare requirements often. But that is a different thing, politically and socially, than the SS safety net that those collecting have paid into for decades.
But, as always, never say never on anything involving the government.