I'm 67 with a $140,000 pension. Should I wait until 70 to claim Social Security so my wife gets more?
News Source
β’Mon, 13 Jul 2026 17:45:00 GMT
π° What Happened
A 67-year-old with a $140,000 annual pension is asking whether they should wait until age 70 to claim Social Security. The goal is to get a higher monthly payment and leave more for their spouse after they pass away.
Delaying Social Security increases your monthly benefit by about 8% for each year you wait past full retirement age. So waiting from 67 to 70 means roughly 24% more money every month for life. This can be a good move for people who can afford to wait.
But the answer depends on the person's health, savings, and how long they expect to live. If they have a $140,000 pension, they may not need Social Security money right away. Waiting could help their spouse get a larger survivor benefit later.
π The Backstory
Social Security is a US government program that pays retired workers a monthly check. You can start collecting as early as age 62, but the amount is smaller. Full retirement age is 66 or 67, depending on when you were born. Waiting until 70 gives you the maximum benefit.
Many retirees face a tough choice. Take money earlier and enjoy it while you are younger? Or wait for a bigger check later? The best answer depends on your health, other income, and family situation.
When one spouse dies, the surviving spouse gets the larger of the two Social Security checks. So if the husband waits and gets a bigger check, the wife will get more after he passes. This is called the survivor benefit. For couples, it is often worth waiting if the higher earner is in good health.
π― Why It Matters
This is a real question many older Americans face. The decision affects how much money you have in retirement and what you leave to your spouse. Getting it wrong could mean losing tens of thousands of dollars over your lifetime.
A 67-year-old with a $140,000 annual pension is asking whether they should wait until age 70 to claim Social Security. The goal is to get a higher monthly payment and leave more for their spouse after they pass away.
Delaying Social Security increases your monthly benefit by about 8% for each year you wait past full retirement age. So waiting from 67 to 70 means roughly 24% more money every month for life. This can be a good move for people who can afford to wait.
But the answer depends on the person's health, savings, and how long they expect to live. If they have a $140,000 pension, they may not need Social Security money right away. Waiting could help their spouse get a larger survivor benefit later.
Social Security is a US government program that pays retired workers a monthly check. You can start collecting as early as age 62, but the amount is smaller. Full retirement age is 66 or 67, depending on when you were born. Waiting until 70 gives you the maximum benefit.
Many retirees face a tough choice. Take money earlier and enjoy it while you are younger? Or wait for a bigger check later? The best answer depends on your health, other income, and family situation.
When one spouse dies, the surviving spouse gets the larger of the two Social Security checks. So if the husband waits and gets a bigger check, the wife will get more after he passes. This is called the survivor benefit. For couples, it is often worth waiting if the higher earner is in good health.
This is a real question many older Americans face. The decision affects how much money you have in retirement and what you leave to your spouse. Getting it wrong could mean losing tens of thousands of dollars over your lifetime.