File and suspend?
We were going to use this strategy since we have an adult daughter with a severe disability. So...since this strategy won't be available to us(neither my husband nor I is 62 this year), I'm wondering why wait until 70 to retire? Is it true that waiting until you're 70 to retire means you need to live to early or mid-80s to break even? If so, foregoing our daughter's 50% amount for a few years, well, that would push the break-even point farther out. I know the software is not updated yet, but I'm wondering if I'm missing anything. I think it might be obvious. The big problem is that my husband and I are self-employed and plan to work into our 70s, if possible. We love our businesses.... But if we take Social Security before age 70, we will get slammed by taxes, correct? Read that this strategy was used primarily by the wealthy. Not so. I know others with adult children with disabilities were counting on this strategy -- a loophole that was left open until ordinary families, and singles, started benefitting from it.