Summary
The article warns married couples against a costly Social Security mistake: delaying spousal benefits beyond full retirement age. Spousal benefits can grow only until full retirement age, unlike individual retirement benefits, which increase when claimed later. Couples should understand the different rules before deciding when to claim. Waiting too long for a spousal benefit may provide no additional advantage while reducing the household’s potential income during earlier retirement years. The article encourages spouses to coordinate their claiming strategies, compare individual and spousal benefits, and consider their broader financial needs. Careful timing can help couples maximize Social Security income and avoid leaving valuable benefits unclaimed.
The Motley Fool
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