The Social Security claiming strategy known as \u201cfile and suspend\u201d is often used by married couples entering retirement, but it can be useful for single retirees as well.<\/p>\n
Most people approaching retirement age are aware that the decision of when to start taking Social Security retirement benefits affects the amount of the payments. Retirees can start accepting benefits at age 62, at age 70, or somewhere in between. The longer the delay, the greater the monthly payments will be. For each year a person waits after full retirement age, the lifetime payout increases by about eight percent.<\/p>\n
\u201cFile and suspend,\u201d in the context of a married couple, is used to allow a spouse to claim a spousal benefit while the main beneficiary delays collecting benefits. The main beneficiary files for benefits at full retirement age but immediately suspends receipt of the benefits; the spouse can then begin receiving a spousal benefit based on (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Social Security claiming strategy known as \u201cfile and suspend\u201d is often used by married couples entering retirement, but it can be useful for single retirees as well. Most people approaching retirement age are aware that the decision of when…<\/span><\/p>\n