When it comes to retirement planning, how and when you file for Social Security can make or break your long-term financial security. Many couples don’t realize just how many options they have—or how dramatically different the outcomes can be.

In this case study, we’ll walk you through the real-life scenario of Dave and Judy, a married couple nearing retirement, and show how their Social Security strategy could result in a six-figure difference in lifetime income.

The Problem: Too Many Choices, Not Enough Guidance

There are over 1,550 different ways a married couple can file for Social Security. While that means there’s almost certainly an optimal route, it also means that choosing the wrong one could leave thousands—or even hundreds of thousands—of dollars on the table.

Dave and Judy, like many couples, were unsure how to proceed. Dave was 62 and still working, earning $4,500/month. Judy, 59, had already left the workforce. They needed about $4,950/month in income to maintain their lifestyle and had questions about how to file in a way that would secure their future—especially for the surviving spouse.

Step One: Understanding the Numbers

Here’s a snapshot of Dave and Judy’s financial picture:

• Dave’s Full Retirement Age (FRA) Benefit: $2,975/month
• Judy’s FRA Benefit: $1,937/month
• Dave’s Pension (future): $1,500/month
• Current Work Income (Dave): $4,500/month
• Lifestyle Income Need: $4,950/month
• Survivor Income Need: Slightly less, but still substantial

Our approach factored in a 2.4% annual inflation rate and a discount rate that values income today slightly more than income in the future. With that framework in place, we analyzed several filing strategies tailored to their goals.

Strategy #1: The Recommended Strategy

• Judy files at age 66, receiving $1,987/month.
• Dave waits until age 70 to file, locking in a monthly benefit of $4,354.

This strategy isn't just about maximizing monthly checks—it’s about long-term planning. Statistically, Judy, being both younger and female, is likely to outlive Dave. When that happens, she’ll step into his benefit, which—thanks to delayed filing and COLA increases—will have grown to $5,926/month by the time she’s 80.

Total Income Advantage:

Compared to filing early, this approach would net them an extra $112,000 over their retirement years.

Strategy #2: Full Retirement Age Filing

If Dave and Judy were uncomfortable waiting until 70, we explored what filing at their Full Retirement Ages would look like:

• Dave files at 67 for $3,270/month
• Judy files at 67 for $2,180/month

While this strategy was safer than filing early, it resulted in a significantly lower survivor benefit. In the event of Dave’s death, Judy would only receive $4,779/month—a meaningful reduction compared to the recommended strategy.

LEARN MORE ABOUT RETIREMENT PLANNING SERVICES

Strategy #3: Filing Early at 62

We also modeled what would happen if both chose to file at 62, the earliest possible age:

• Dave’s initial benefit: $2,181/month—but since he’s still working, he would temporarily receive $0 due to the income means test.
• Judy’s benefit: Just $1,363/month.

This early strategy not only reduces their monthly income now—it cripples their survivor income later. If Dave were to pass away first, Judy’s survivor benefit would only be $3,942/month, a sharp drop from the $5,926/month she would have received with the recommended approach.

The Takeaway: Customization is Key

Not everyone can afford to wait until age 70 to file. Dave may want to retire earlier, and that’s completely valid. But that’s exactly why it’s critical to review all available income sources—like pensions, IRAs, or part-time work—and build a strategy that fits your life.

Social Security is not a one-size-fits-all decision. Your filing strategy should reflect:

• Your work history
• Your income needs
• Your health and life expectancy
• Your spouse’s benefit eligibility
• And your other retirement assets

What Happened Next

After reviewing the scenarios, Dave and Judy were able to make an informed decision about how to approach their benefits. More importantly, they understood the trade-offs involved—whether they prioritized maximum income, earliest retirement, or long-term survivor security.

Get Your Free Social Security Timing Plan

We don’t believe in guesswork. Our team uses advanced software and years of experience to help couples like Dave and Judy find the right path forward—at no cost.

✅ No pressure
✅ No sales pitch
✅ Just clarity

📅 Schedule your free consultation and let’s run your numbers. Your ideal strategy might be worth thousands.