Should you wait for Social Security benefits? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Should you wait for Social Security benefits?

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Q  I saw an article in a national publication saying that a couple can increase their Social Security benefits if the wife applies individually at age 62 and the husband at age 66. Is this correct? J.H., via e-mail

A  It depends. Some couples benefit by having the higher earning spouse delay application of benefits. This is due to the interplay between the reduction of benefits for early retirement and the full benefits available to a surviving spouse upon the death of a higher-earning spouse. But several other factors should be considered, including the respective ages of the spouses and the amounts involved.

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