Social Security math dilemma: Taking survivor benefits at 62 vs waiting until FRA - breakeven analysis

I think you're approaching this correctly. The general advice to take your own benefit at 62 and then switch to survivors at FRA works best when your own benefit is significantly lower than the survivor benefit. In your case, the gap is substantial. Let me run some quick math: If you take survivor benefits now ($4,027 × 12 × 5 years = $241,620 before FRA). Then subtract what you'd get from your own benefit during that time ($1,520 × 12 × 5 = $91,200). That's a difference of $150,420 in your pocket before even reaching FRA. Yes, you'd get a higher survivor benefit by waiting ($5,034 vs $4,027), but that difference of $1,007 monthly would take about 12.5 years to make up that $150K difference. So your breakeven would indeed be in your 80s. For most people, taking the larger amount sooner makes mathematical sense unless you have very strong reasons to believe you'll live well into your 90s.

my mom did this exact thing took her own at 62 then switched to dads at her FRA she says SSA never explained this option to her she only found out from a friend!!! make sure u get everything in writing when u decide

Have you considered the tax implications though??? If you take the higher survivor benefit now, you might push yourself into a higher tax bracket where up to 85% of your SS benefits become taxable. The calculations aren't just about the raw SS numbers - it's about the NET after tax that matters. Also, do you have other income sources? Investments? Part-time work? All this would affect your optimal strategy.

Just wanted to say THANK YOU for posting this question! I'm in almost the exact same situation (61, deciding between my benefit or survivors from my wife). I've been so confused but seeing your math helps clarify things. Following this thread closely!

I'm a retired financial planner who specialized in Social Security strategies. Here's what most people miss: it's not just about the break-even age, it's about TOTAL lifetime benefits maximization AND risk management. The mathematical optimal choice depends on: 1. Your health/longevity expectations 2. Current income needs 3. Other income sources and their timing 4. Tax brackets now vs. later years 5. Inflation expectations (COLA affects larger benefits more) One strategy to consider: If you don't need all the survivor benefits immediately, you could take them now but invest the difference between what you need to live on and the full amount. This creates a personal reserve that might outperform the implied return of waiting. Personally, I tend to favor taking the higher amount earlier unless there's a compelling reason not to (like significant tax issues). Money in hand now has utility and options that theoretical future money doesn't.

Has ANYONE been able to actually reach SSA lately to discuss these kinds of complex situations?? I've been trying for WEEKS to talk to someone about my widow benefits and keep getting disconnected or waiting 2+ hours only to get someone who doesn't understand my situation! It's INFURIATING! How are we supposed to make these important decisions without proper guidance?!!

Another factor to consider: If you take your own benefit at 62 and plan to switch to survivor benefits at FRA, what would you do with your own benefit after switching? Many people don't realize it simply stops - you don't get both. So when calculating the lifetime value, remember that the survivor benefit completely replaces your own benefit at whatever point you switch. This is why running a full lifetime projection to at least age 90 is important. You need to map out the total benefits under different scenarios: 1. Your benefit at 62, then survivor at FRA 2. Survivor now, never taking your own 3. Your benefit at 62, never switching 4. Waiting to take either until FRA or later The best financial choice is the one that maximizes the area under the curve of the lifetime benefit graph.

Does anyone know if there's a penalty if you're still working while collecting either benefit? I heard something about an earnings limit but don't understand how it works

my neighbor waited till 70 for everything and then died at 72 just sayin