[jyl]

This is a very useful discussion.

It looks like my break-even is 80 y/o - if I die before 80, I'm better off taking benefits early; if I die after, I'm better of waiting to take benefits.

I have a question about how recent earnings factor into the benefit. I had max SS earnings every year for decades until 2021 when I opened my own office, elected S-Corp, and started paying myself the smallest credible W2 salary ($50K). So my last four years' SS earnings have been at $50K. Does that hurt my benefit? Should I up my W2 salary to max SS earnings for a couple of years, before starting to take SS benefits?

Edit: answered own question. Benefits based on top 35 years of inflation-indexed earnings.

Another question: how do we factor spousal benefits into this? Women often outlive men, and often have a lower SS benefits. Shouldn’t we think about a scenario where we (I) die first and spouse lives on?

Edit: see below.