Planning your retirement funding is acomplex process.
Besides your retirement savings, you might also usesocial security benefits.
This method is a good fit if you better start collecting benefits before your full retirement age.
The government determines your full retirement age by what year you were born.
This also influences the percentage your benefits are reduced.
you’re free to find more information on what both of these are for youhere.
When this spouse reaches age 66, they suspend their benefits.
This allows benefits to grow until age 70.
You’re maximizing your benefits through what is calleddelayed retirement credits.
The other spouse would then claim spousal benefits at age 66.
At age 70, this spouse would switch to their own retirement benefits.
Then, at age 70, both would switch to their own retirement benefit.
Whatever you choose, see to it it is right for you and your spouse.
For more information on how to maximize your social security benefits, check out the full post linked below.
How to Max Out Social Security Spousal Benefits| Money
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