Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
7 posts • Page 1 of 1
I am 70, retired and receive and receive $2912.50 monthly in SS benefits monthly. Wife is 61 and retired. We are in good finacial condition with healthy IRA and brokerage accounts. Company pensions, rental income and RMD gives us income of over $90K annually. We are considering wife taking her SS benefit at age 62. She has worked in the past but most likely her benefit would be higher based on my SS benefits. Very good chance she will out live me and then she would receive my total benefit amount after I die. Are there any calutlators available to figure out the best strategy?
+1 Thanks to Mike for the calculator, it has already helped thousands with this decision.
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett
Excellent. I had run my rough approximation of your numbers and found the same. Glad folks could help you.