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Should retirees claim spousal Social Security benefits now or later?
MarketWatch notes the decision hinges on whether taking spousal benefits early would reduce what each spouse could receive later based on their own work credits.
MarketWatch discusses a common Social Security claiming dilemma for married couples close to retirement, where one spouse is 64 and the other is 70.
The outlet frames the choice around whether claiming spousal benefits now would leave less value on the table than waiting to claim benefits based on each spouse’s own work record.
The key issue, according to MarketWatch, is how much each person paid into Social Security through their own earnings history and how that affects the relative advantage of spousal versus individual benefits.