Social Security (SS) is such an incredibly complicated subject when you really get into the details, so I am looking for a few good websites that really get into the nitty gritty about it with FAQ's, etc. FYI- I don't consider ssa.gov to be up to the standards that I am looking for.
Let me give a bit more info.
1) My understanding is that SS payments are based on the Top 35 earnings figures for your last 40 years of earnings.
2) I've heard that there is a household (HH) cap on the amount that can be paid to a single HH. For instance, if the wife and husband each would qualify for say, $2,500/month, combined they could be subject to a maximum amount of something like, say, only $3,500. This HH max could be WAY LOWER than what they would get if they were in two separate HH's.
3) Also, the conventional wisdom is that if you put off filing for SS you get an additional payout of something like 8% a year, which is nothing to sneeze at. Of course, the govt. would love to see everyone put it off- postponing their obligation as long as possible. But if you are already over the max cap (even at age 62), wouldn't it make more sense to start taking it now. The additional 8% a year won't do any good if you are already over the max payable amount for a HH.
4) I've heard that husband and wife shouldn't begin taking SS the same year. Anyone have an easy to understand explanation as to why that is true?
I've used Bing and Google to look for SS info, but have been very disappointed with what I've found so far. Any ideas or commentary would be greatly appreciated. Thanks in advance.
P.S. To anyone who asks me to seek out the advice of a paid financial consultant, I feel that the information is out there on the web for me to be successful in researching the subject. Also, with almost 20 years experience in the financial industry, I've found that some so-called experts know less than I do.