If you were the biggest earner, survivor benefits can give your widow(s) more income to live on after you die. That’s because your partner gets to keep the higher of the two benefits that both spouses received.
By filing early and reducing your own checks, you could be dooming your surviving spouse to a lifetime of financial hardship once your spouse has to rely on just one Social Security check that ends up being much smaller than he could have been.
In any of these three situations, you would probably have been much better off with a delayed claim. So think carefully about the long-term ramifications of your decision to file early for Social Security benefits and accept a reduced benefit for the rest of your life — and possibly your spouse’s life, too.
The $16,728 Social Security Bonus Most Retirees Completely Overlook
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” can give your retirement income a boost. For example, one simple trick can save you as much as $16,728 more… per year! Once you know how to maximize your Social Security benefits, we think you can retire with confidence with the peace of mind we all strive for. Click here to discover how to learn more about these strategies.