In this series, “Social Security Secrets,” experts Larry Kotlikoff and Phil Moeller explain the most important things you need to know about this valuable retirement benefit. Kotlikoff and Moeller are co-authors of the New York Times best-seller Get What’s Yours: The Secrets to Maxing Out Your Social Security.
As a result of the new Social Security law passed in 2015, the claiming options for married couples have become more limited. The decision about when each spouse should start collecting Social Security will depend in large part upon their relative ages and earnings records, and to a lesser extent upon their expected lifespans.
It’s important to remember that the longer the higher-earning spouse delays taking Social Security, the greater the survivors benefit will be for the lower-earning spouse, if the lower-earning spouse outlives the other.
You need to research so you can choose the path that makes the most sense for you and your spouse.