No. of Recommendations: 3
For most, obviously not all (which shouldn't have to be said, but just in case), people who are living on or intend to live on their investments in retirement, which is probably everyone here, delaying SS allows you to safely spend more money in the early part of your retirement. Not less. More.
I get it. If you claim early you get the bird in the hand, you eliminate longevity risk, etc. Maybe you need the money. All kinds of reasons to claim early. More power to ya if that's your choice.
But math says most people, especially people in our situation, can safely spend more money in the early years if they delay. It isn't opinion, it is math.
I read a few article several years ago which discussed a sort of split strategy. It only applied to married couples. The lower-earner should take benefits at 62, increasing money available to do stuff (like travel) without rocketing up (usually) into a higher tax bracket. It also buffers against market fluctuations if you're living off of your investments. Then the higher earner would take them at 70. When one spouse expires, the surviving spouse can opt to retain the higher benefit payout of the two.
Seemed like a reasonable, conservative strategy to us. 1poorlady is planning on doing it in a few years.
