If you think that Social Security planning is a simple process consider this situation.

The clients are a couple.  The husband is 67 and already collecting retirement benefits.  The wife is 62.  He has a much higher earnings history and therefore much higher benefits.  We advised him to consider “suspending his benefit.”  Why?  Because suspending would allow him to accrue delayed retirement credits of approximately 8% a year if he waited until age 70 to restart benefits.   His monthly benefit would be about 24% higher every single month, for life, starting at age 70. 

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access