A Social Security Strategy That Can Give Couples More Time to Decide

Social Security can provide an important stream of retirement income, but the age at which you file affects how much you will collect for the rest of your life.

For married couples, the decision can be even more complicated. You can start benefits at 62, while delaying until 70 locks in the highest payment. Age differences between spouses and each person’s earnings history also matter.

How split claiming can work

Waiting until 70 is often the best way to maximize a benefit, but both spouses do not necessarily need to delay that long, especially when money is tight. In many cases, the lower-earning spouse may claim earlier because there is less upside to waiting, while the higher earner delays to 70 and secures a larger payment for the household.

It is also worth thinking about survivor benefits. Those payments are based on either the survivor’s own benefit or the deceased spouse’s benefit, whichever is higher. That gives the higher-earning spouse a strong reason to delay claiming as long as possible.

A spouse with health concerns may decide to claim earlier instead. Because it often takes until the early 80s to break even on a claim at 70, someone who does not expect to live that long may prefer to receive some income sooner and gain more flexibility now.

Why this can matter for surviving spouses

The possibility of a larger survivor benefit is a major reason many higher-earning spouses consider waiting. It can provide an extra financial cushion for the lower earner, though age differences should not be ignored. If the higher earner is much younger, the lower earner may be more likely to die first.

Choosing to wait for a bigger survivor benefit means accepting less cash flow in the near term in exchange for more guaranteed income later. By the time a surviving spouse begins relying on Social Security, returning to work may be less realistic, so benefits and savings need to cover monthly bills.

When the approach may fit — and when it may not

This strategy often works best for couples with some savings and part-time income. An early claim by one spouse can help fill the gap while allowing the higher earner to delay and increase future benefits.

It is less effective for couples in excellent health who are likely to live longer than average. It also becomes difficult if both spouses need Social Security right away to meet everyday expenses.

Before filing, you can review your personalized Social Security estimate on the Social Security Administration’s website. That information can help you choose the best timing for your claim.