This Social Security Strategy Could Backfire If You're Married
Claiming Social Security prior to full retirement age (which falls between 66 and 67, depending on your year of birth) means slashing your monthly benefits for life. But in some cases, it does pay to file early.
In fact, you'll often hear that if you don't expect to live a long life, then it makes sense to sign up for Social Security at the earliest possible age of 62. Though doing so will slash your monthly benefit, there's a good chance you'll walk away with a higher lifetime benefit if your life expectancy isn't all that generous.
But while this specific strategy does work well for seniors who are single, it's more problematic for seniors who are married. Here's why.
Source Fool.com
