Big Tree on Big Island (That’s me under the tree!)
2023 was our 11th full year of wild and free livin’ domesticated living.
Life in the burbs is interesting… life largely revolves around kids and their activities. Every once in awhile when we are feeling a little wild, we might bake a pie or mow the lawn. And as the school calendar allows we mix in a bit of travel (Spring break in Vegas, early summer on the Big Island, Thanksgiving in Tahoe, and Christmas in Taiwan.)
It took some getting used to but we have now become fully acclimated to this relaxed, family-friendly, predictable environment. The only real surprise was the total cost.
Social Security includes a spousal benefit, in which the lower earner is able to take the greater of their own SS income or up to 50% of their spouses’.
Upon death of the higher earner, the lower earner assumes the higher earner’s benefit (replacing their own.) A survivor benefit.
Because of these spousal and survivor benefits many choose to delay collecting Social Security until age 70 in order to secure the largest monthly income, which will help to provide their younger / greater longevity spouse financial security throughout their twilight years.
I will do the opposite, and my wife will be better off for it.
There is no shortage of reading material if you wish to determine “The best time to collect social security.”
The vast majority conclude that it is best to wait as long as possible because the monthly income will be higher. Delayed social security income is larger than early social security income, and More is MORE!
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