VyStar Investment Services

76 S Laura Street
Jacksonville, FL 32202

Social Security Retirement Benefit Calculator - Married Couples
Social Security Retirement Benefit Calculator - Married Couples

This calculator analyzes the multiple Social Security retirement benefit scenarios available to a married couple (both spouses must be age 50 or older). Given the assumed ages at death, the calculator suggests the scenario that appears to offer the highest potential total lifetime benefit.

Restricted applications (i.e., an individual filing for spousal benefits at full retirement age, but not for retirement benefits until a later date, in order to get an increased retirement benefit) are not available for persons turning age 62 after 2015. A person born after 1953 that applies for either a retirement or a spousal benefit will be deemed to apply for the other type of benefit as well.

"File and suspend" is a strategy in which a spouse files for retirement benefits at full retirement age and immediately suspends the benefits, allowing the other spouse to file for spousal benefits. For any request for benefit suspension submitted after April 29, 2016, spousal benefits cannot be paid to either spouse during the suspension period. This calculator considers the file and suspend strategy only for persons who are at least age 66 by April 30, 2016. A calculation showing file and suspend is not valid unless the request for benefit suspension is submitted by April 29, 2016.

Enter Basic Information
Spouse 1 (S1) Spouse 2 (S2)
Year of birth (1952 to 1972)
Each spouse must be age 50 or older, and younger than 71.

Benefit age (62 to 70)
Estimated monthly benefit at selected age $ $
Enter estimated monthly Social Security retirement benefit, and the benefit age (62 to 70) for which the estimated monthly benefit applies. You can obtain the benefit amount from a Social Security Statement, or from the Social Security Administration website (www.ssa.gov).

(Optional) Restrict the age ranges considered by the calculator
Lowest age to evaluate
Highest age to evaluate
The calculator evaluates scenarios and benefit options available between ages 62 and 70 for each spouse; if an individual is older than 62, the calculator will evaluate options available for the current age up to age 70. If you wish to restrict the age range considered (e.g., Spouse 1 wants to begin claiming benefits no later than age 68), you may do so by adjusting the lowest age or highest age for each spouse.

(Optional) Change lifetime benefit period
Assumed age at death
Life expectancy (according to Social Security life expectancy tables) for Spouse 1 is assumed to be age 81 (life expectancy for a man), life expectancy for Spouse 2 is assumed to be age 84 (life expectancy for a woman). These values are used to estimate total lifetime benefits received. To change, enter new values above. Note that age must be at least the "highest age to evaluate" value used above, but no more than 119.

(Optional) Specify a scenario for comparison purposes
Spouse 1 (S1) Spouse 2 (S2)
Begin retirement benefits age (no less than lowest age to evaluate, nor more than highest age to evaluate)
This calculator will suggest the scenario that appears to offer the highest potential total lifetime benefit. To compare the result with another possible scenario (e.g., both spouses receiving benefits at age 62), enter specific retirement benefit starting ages above. To illustrate only the suggested scenario, leave the input fields for this section blank.

Securities and Advisory Services are offered through LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC.  Insurance products offered through LPL Financial or its licensed affiliates.  The investment products sold through LPL Financial are not VyStar Credit Union deposits and are not NCUA insured.  These products are not obligations of VyStar Credit Union and are not endorsed, recommended or guaranteed by VyStar Credit Union or any government agency.  The  value of the investment may fluctuate, the return on the investment is not guaranteed and loss of principal is possible.  VyStar Credit Union and VyStar Investment Services are not registered broker/dealers and are not affiliated with LPL Financial.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.   All performance referenced is historical and is no guarantee of future results.  All indices are un-managed and may not be invested into directly.   The information provided is not intended to be a substitute for specific individualized tax planning or legal advice.   We suggest that you consult with a qualified tax or legal advisor.

LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., and affiliate of LPL Financial. 

This communication is strictly intended for individuals residing in the state(s) of FL. No offers may be made or accepted from any resident outside the specific states referenced.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2022.