I am currently at FRA (full retirement age) but not yet receiving social security benefits. My spouse will reach FRA in March 2025 at age 66 yrs 8 mths.
What is the best strategy to begin claiming benefits for each of us to maximize a total payout?
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Hi @jerrygiordano ,
To better understand the possible strategies to maximize your benefits, we suggest you visit the Benefit Calculator site from the Social Security Administration . You can also use the following links to help you calculate your benefits:
Please keep in mind the tax consequences of your retirement benefits. If you will receive income from other sources up to 85% of your social security benefits may be taxable. Please review the following links for detailed information regarding retirement and taxes :
Thank you and good luck !
Hi Jerrygiordano,
Thank you for your question. Decisions about when to start receiving retirement benefits require careful planning to get the maximum benefits. When you say that you're at full retirement age, I assume you're in compliance with the Normal Retire Age chart from the SSA as shown here Normal Retirement Age .
Spousal benefits are subject to certain guidelines such as:
The Social Security Benefits Calculator here Benefits for Spouses will help you make a better decision.
I hope the above gives you some clarity to the decision.
Sincerely
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