This Social Security Decision Could Make a Big Difference for Married Retirees

What: The Social Security Administration (SSA) allows married couples to claim benefits strategically, but many retirees don't take advantage of this opportunity.
Why: Claiming benefits at the right time can significantly impact the total amount of benefits received by married couples, with some couples potentially increasing their combined benefits by thousands of dollars.
Signal: Retirees should consider how their spouse's benefits will be affected when deciding when to claim their own benefits, as this can be a crucial factor in maximizing their overall benefits.
Target: Couples should aim to claim their benefits in a way that maximizes their combined benefits, potentially by one spouse claiming benefits early and the other spouse delaying their claim to increase their benefit amount.
Risk: If not planned carefully, claiming benefits at the wrong time can result in a significant reduction in combined benefits, potentially leaving retirees with thousands of dollars less in their retirement.