Question: I started benefits at 62. When my wife files for benefits at full retirement age, will she get half of what I get now or what I would have gotten at full retirement?
Answer: She will get half, not of your actual benefit, but of your full retirement benefit.
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When it comes to personal finance, economics and our software care about one thing—your living standard. All questions in personal finance boil down to your living standard. Your decision about when and how to take Social Security can affect your living standard throughout your retirement.
I am a professor of economics and I’ve spent a good part of my academic career studying personal financial behavior. Here’s why my colleagues and I developed Maximize My Social Security. Deciding, on your own, which Social Security benefits to take and in which month to take them is incredibly difficult. Most households face millions of options. You can easily lose tens of thousands of dollars making the wrong choices.
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