Should wife take SS at age 62?

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RetiredInTN2017
Posts: 18
Joined: Sat Dec 30, 2017 9:36 am

Should wife take SS at age 62?

Post by RetiredInTN2017 » Mon Jun 17, 2019 8:37 am

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?

fabdog
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Location: Williamsburg VA

Re: Should wife take SS at age 62?

Post by fabdog » Mon Jun 17, 2019 8:42 am

https://opensocialsecurity.com/

Mike Piper posts here and there are many threads covering this tool/Q&A/enhancements

Mike

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Bogle7
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Re: Should wife take SS at age 62?

Post by Bogle7 » Mon Jun 17, 2019 8:43 am

My answer is: spend $40 at MaximizeMySocialSecurity.com
This is what I did a few years ago after learning about it here on this forum.

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Watty
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Re: Should wife take SS at age 62?

Post by Watty » Mon Jun 17, 2019 8:49 am

fabdog wrote:
Mon Jun 17, 2019 8:42 am
https://opensocialsecurity.com/

Mike Piper posts here and there are many threads covering this tool/Q&A/enhancements

Mike
+1

It would be interesting to hear what it said in your situation.

Topic Author
RetiredInTN2017
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Joined: Sat Dec 30, 2017 9:36 am

Re: Should wife take SS at age 62?

Post by RetiredInTN2017 » Mon Jun 17, 2019 9:28 am

Thank you for letting me know about this calulator. It was very helpful.
I just now used this link/calulator and it said start her SS at 62 and 1 month. https://opensocialsecurity.com/

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dwickenh
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Re: Should wife take SS at age 62?

Post by dwickenh » Mon Jun 17, 2019 9:37 am

RetiredInTN2017 wrote:
Mon Jun 17, 2019 9:28 am
Thank you for letting me know about this calulator. It was very helpful.
I just now used this link/calulator and it said start her SS at 62 and 1 month. https://opensocialsecurity.com/
+1 Thanks to Mike for the calculator, it has already helped thousands with this decision.

Dan
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

Silk McCue
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Re: Should wife take SS at age 62?

Post by Silk McCue » Mon Jun 17, 2019 9:38 am

RetiredInTN2017 wrote:
Mon Jun 17, 2019 9:28 am
Thank you for letting me know about this calulator. It was very helpful.
I just now used this link/calulator and it said start her SS at 62 and 1 month. https://opensocialsecurity.com/
Excellent. I had run my rough approximation of your numbers and found the same. Glad folks could help you.

Cheers

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