Chief in your minds is how to maximize social security benefits for a married couple.
You are approaching the age when you better make decisions about taking Social Security payments.
In your situation, you probably know which spouse is in line to get the most money.
That would be the one of you that made more money and thus contributed more.
So, lets say you two have decided one of you needs to start taking Social Security benefits now.
But which one of you?
How do you maximize Social Security benefits for a married couple?
A Couples Guide to Claiming Social Security
Its a complicated question with a complicated answer.
There are several points to consider before making the decision of whose benefits to claim first.
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This article will explain spousal benefits a bit later.
(That will make for pleasant dinner conversation.)
Deciding Factor: Work Intentions
Now lets consider work intentions.
(This stipulation has become increasingly significant as life expectancy among men increases.
Spousal benefits are also reduced if the first spouse takes his or her benefits before full retirement age.
The federal website for theSocial Security Administrationhas a wealth of information as well as benefit calculators.
Kent McDill is a longtime journalist who has specialized in personal finance topics since 2013.
He is a contributor to The Penny Hoarder.
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