No. of Recommendations: 8
Is it still considered a good strategy for the lower-earner to take their benefits at 62, while the higher earner takes it at 70? - 1pg
-----------------
Like many things from the government, the answer is not as simple as seems.
I am single and filed when I was 70. That's a good bet for me since longevity is likely. If I was diabetic or fighting emphysema or had heart problems, I would be more inclined to take it sooner, maybe even early. So health should factor into your decision making in some way.
Deferring SS is only possible if you have other income that will provide the retirement lifestyle you want. The math may say wait until 70, but that may not be practical. So evaluating the retirement nest egg must be done to be certain deferral is an option.
The real complicated part comes in, IMHO, for joint withdrawal strategies for married couples. This is (or was) a provision for when a spouse signs up for SS, they can receive a benefit based on their personal earnings record or that of their spouse while their own benefit continues to grow. That opens up some strategies such as the lower earner taking at 62 based on the higher earners record. When the higher earner themself retires later, the lower earner reverts to a benefit based on their own record.
You may want to DDG "Social Security Claiming Strategies" and do a little reading, It can't hurt. Goodluck!
BTW DDG is DuckDuckGo, I abhor all things google.
