Wondering When to Take Social Security?

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7. When to take Social Security

I researched this subject before I retired and found out that it was a complicated question. In addition to life expectancy, you need to consider your spouse's earnings and age. Because my spouse is younger, I should wait until 70 if I can so that she can receive a greater spousal benefit when I die (The surviving spouse gets the greater of his or hers or the spouse's SS income).
There are social security calculators that will, for a fee, recommend when to take it based on these and other factors (Google social security calculators) but you still have to input your life expectancy, inflation rate, and expected return on investments.

For an individual, there is a break even age of 83, meaning you are better off waiting if you live longer than that; but with a spouse it is not that simple.

Good luck