Step 3: Your Social Security Options
Many people are unsure when to begin Social Security benefits. Let's generate two scenarios below where you can compare your Social Security income based upon when you begin taking those benefits. Use the dropdowns or slider bars to generate scenarios for your monthly Social Security Benefit.
Scenario A
Scenario B
Select a scenario below to continue ↓
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Select a scenario to include in your Income Model
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Cumulative Social Security Income — Scenario A vs. Scenario B
These represent the total future cumulative income you will receive from Social Security under each scenario. If you take your benefit sooner it will be a smaller benefit but you will be receiving it for a longer time. You need to decide which of these scenarios best suits your need.
How the Calculation Works
The “Top-Off” Formula
Social Security automatically looks at both potential benefits (your own vs. the spousal benefit) and pays the higher amount. It does not stack them. You are paid 100% of your own benefit, plus the “Spousal Excess”—if 50% of your spouse’s PIA is higher than your own PIA, you are topped off to that 50% level.
Key Constraints and Nuances
- Age Matters — Claiming at 62 reduces the spousal benefit to approximately 32.5% (vs. the full 50% at FRA).
- The Higher Earner Must File — You cannot receive a spousal benefit until your spouse has filed for their own benefit.
- No “Switching” or Stacking (Deemed Filing) — You cannot claim your own benefit first and then switch to a spousal benefit for a windfall. Social Security deems you to have filed for all benefits for which you qualify simultaneously.
- No Delayed Credits — Spousal benefits stop growing at FRA (typically Age 67). Waiting past FRA does not increase the spousal portion of your benefit.