Social Security

One of the must-answer questions for anyone retiring is when to start Social Security.  For most people, this is between ages 62-70 and the longer they wait, the larger the check.

For someone who is or was married, the list of questions is more complicated:

1. Which spouse should claim first and when?
2. Does either spouse qualify for a spousal benefit (i.e. 50% of the higher wage earners Social Security check)?
3. If you are divorced or a widow(er), who’s benefit are you eligible for and when?
4. If you retire and delay Social Security, is it worthwhile to spend investments for a higher Social Security check later or start a smaller Social Security check to preserve investments?

Most of these questions can be answered the same way – it depends.