20 Financial Tips for Retired Married Couples

3. Think Through Social Security Claims

A big financial tip for retired married couples is to really think through their social security claims. If you have worked for at least 10 years during your adult life, then you will qualify for social security payments in retirement. Depending on your family’s financial situation, there will be a number of variables to consider on what age is the most appropriate for each member of the family to start receiving social security. Each retired person in the marriage can start receiving social security at the age of 62; however, to get the full benefit, one must wait until their full retirement age (just over 66 years of age for those turning 62 this year, and is dependent on the birth year). For couples who are continuing to work or financially stable, if one is able to wait until the age of 70, the payment goes up further.