Delaying Social Security to 70 earns 8% annually, turning a $2,500/month benefit at 67 into roughly $3,100 per month. That represents a permanent $600/month gain for both spouses.
Freed home equity replaces unclaimed Social Security income, shields investments from forced selling, and delivers tax-free spending cash during the bridge years.
Married couples can exclude up to $500,000 in home-sale gains, but excess gains are taxable and can spike Medicare IRMAA premiums two years later.
Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.
A couple in their late 60s sells the house they raised kids in (stairs are annoying, property taxes climb, two bedrooms sit empty) and buys something smaller. They walk away with roughly $300,000 in cash after closing. The question: do they turn on Social Security, or use that freed equity to wait?
Freed home equity replaces unclaimed Social Security income, shields investments from forced selling, and delivers tax-free spending cash during the bridge years.
Married couples can exclude up to $500,000 in home-sale gains, but excess gains are taxable and can spike Medicare IRMAA premiums two years later.
Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.
A couple in their late 60s sells the house they raised kids in (stairs are annoying, property taxes climb, two bedrooms sit empty) and buys something smaller. They walk away with roughly $300,000 in cash after closing. The question: do they turn on Social Security, or use that freed equity to wait?
11 days ago
