The Social Security Decision That Matters Even More If You're Married

A retirement plan often involves trade-offs. Claim benefits early to get money sooner, or wait to receive larger payments later? Pay off the mortgage before retiring, or keep more money invested? Downsize to reduce expenses, or age in place?

Social Security adds another layer to these decisions. For married couples, today's best choice may not provide the most long-term financial security.

Retirement benefits don't affect both spouses equally. One spouse's decision may influence the other's available income for years if the first spouse dies. Understanding that connection is an important part of planning a retirement that works for both parties.

Social Security is a household decision for married couples

Couples should compare the monthly Social Security checks each spouse would receive at different claiming ages, since one partner may be ready to retire at 62 while the other plans to work until full retirement age.

The conversation makes even more sense when a couple needs income to cover everyday expenses. However, beware of looking at each spouse's benefit in isolation. Doing so may leave out an important part of your financial picture: what happens if one partner dies.

Social Security provides survivor benefits to eligible widows and widowers. A surviving spouse receives a benefit based on the deceased spouse's earnings record rather than continuing to collect both partners' retirement benefits.

As a result, the higher earner's claiming decision may have consequences beyond the years when both spouses are alive. If the higher earner delays claiming and gets delayed retirement credits, their larger benefit also increases the money available to the other spouse.

Why the higher earner's claiming age matters

Workers may generally start collecting retirement benefits at age 62, but claiming that early permanently lowers their monthly check. Waiting until full retirement age avoids that reduction, and delaying until age 70 increases the benefit through delayed retirement credits.

These adjustments also affect married couples' survivor benefits.

To clarify, let's consider a married couple deciding their claiming strategy: Tim and Gaby. Tim has earned substantially more over his career than Gaby. As a result, he stands to receive a much larger benefit than she does. If Tim dies first, Gaby's income would fall substantially. The survivor benefit may help cushion that loss.

Under Social Security's rules, an eligible surviving spouse may receive up to 100% of the deceased worker's benefit, depending on their claiming age and other circumstances. When the deceased spouse's retirement benefit includes delayed retirement credits, those credits carry through to the survivor benefit.

In practical terms, Tim's decision to wait helps preserve a larger source of monthly income for Gaby, which is especially important given her smaller retirement benefit. Still, Tim shouldn't automatically wait until age 70. Instead, he should base his decision on his health, life expectancy, employment plans, savings, and immediate income needs.

What research says about delaying benefits

Research highlights why survivor benefits deserve more attention in retirement planning.

A 2024 analysis published by the Center for Retirement Research at Boston College examined how delaying benefits affects couples with different income levels. Researchers found that delaying generally increases the total value of benefits couples receive, although the gains differ across households.

In their example, delaying the husband's benefits from age 62 to 66 increased the estimated present value of future benefits by about 9% for higher-income couples and 7% for lower-income couples.

The research also highlighted an important distinction: the financial gains from delaying aren't always concentrated in survivor benefits. For higher-income couples, some of the advantage comes from the higher earner collecting larger payments over a longer retirement. How much a surviving spouse ultimately benefits depends on both partners' lifespans and claiming decisions.

The takeaway would be that couples must consider their combined retirement outlook, including the possibility of a substantial income reduction after one partner dies.

How couples can make an informed decision

Each couple's circumstances dictate the right strategy. Delaying benefits usually means giving up immediate payments in exchange for more money later. It's a difficult trade-off for couples who need benefits early or whose health makes a long retirement less likely.

Also remember that survivor benefits have their own eligibility and claiming rules. Couples should take a few practical steps before choosing their claiming ages.

Compare both spouses' benefits at different claiming ages

Look at the estimated monthly payments at 62, full retirement age, and 70, where applicable.

Estimate the surviving spouse's income

Consider how household expenses might change after one partner dies and whether the survivor could cover those costs with one Social Security benefit and other retirement income.

Pay particular attention to the higher earner's benefit

If one spouse has a much larger earnings record, delaying that person's claim may provide a more valuable source of protection for the surviving partner.

Consider health and cash flow

A strategy that looks attractive on paper may not work if the couple needs income sooner or has limited savings to bridge the gap.

Bottom line

Married couples choosing when to claim Social Security should consider more than the monthly income they'll receive while both partners are alive. The higher earner's claiming age may affect the survivor benefit available to the other spouse, so that decision is an important part of long-term retirement security.

Delaying benefits isn't automatically the right move for every couple. On the other hand, maximizing today's household income doesn't always provide the strongest protection for the future. To put extra cash in your pocket, compare estimates for both partners and ask the Social Security Administration how different claiming ages could affect the surviving spouse's benefit before either one of you files.

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