Joe and Big Al break down how to file & suspend your Social Security in order to maximize your benefit. Al explains what a spousal benefit is and how to use tap into your spousal benefit when you file and suspend.
0:32 “You must be 62 or older to qualify for the spousal benefit”
0:42 “What the spousal benefit is, is one half of your spouse’s primary insurance amount as long as it’s claimed at full retirement age”
1:07 “You could still take half of your spouse’s and let yours grow”
1:55 “[A file and suspend] means he goes down and files to receive benefits but suspends his benefits, doesn’t take them currently”
2:39 “You suspend your benefits; why do you do that? So your benefit will continue to increase”