Does delaying Social Security always make sense?

Question

Right now, my spouse and I are approaching the ages when Social Security claiming decisions become important. Right now, our earnings histories are different and one of us may continue working, so the best timing may not be the same for both of us. The part I am trying to resolve is how claiming age, work, and spousal planning interact.

Soradin · Accepted Answer

Delaying can increase monthly benefits, but health, cash needs, work, and household strategy may support another choice. Within the broader financial plan, social Security claiming affects lifetime income and survivor protection. For the household plan, the best age depends on health, work, marital history, other income, taxes, cash needs, and how long the household may rely on the benefit.

Does delaying Social Security always make sense?

Soradin

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