3 Assumes she was born in 1960 or later. Results shown in today’s dollars. Source: Chief Investment Office, based on calculations from the Social Security Administration Quick Calculator. Accessed March 2023.
4 If you were born before January 2, 1954, you can choose to receive only the spousal benefit and delay receiving your retirement benefit until a later date. If you were born January 2, 1954, or later, you are required to file for both benefits at once, and you'll generally receive the higher amount. Source: Social Security Administration, "What Every Woman Should Know," October 2022.
7 The exact percentage depends on the survivor’s age when they begin collecting, starting at 71.5% at age 60 and going up to 100% at their own full retirement age. For further information, visit the Social Security Administration’s survivors benefits page.
Opinions are as of 04/24/2023 and are subject to change.
Investing involves risk including possible loss of principal.
Social Security discussion is provided for informational purposes only and is not intended to provide specific advice. If you have questions regarding your particular situation, you should contact the Social Security Administration and/or your legal advisors.
This information should not be construed as investment advice and is subject to change. It is provided for informational purposes only and is not intended to be either a specific offer by Bank of America, Merrill or any affiliate to sell or provide, or a specific invitation for a consumer to apply for, any particular retail financial product or service that may be available.
The Chief Investment Office (CIO) provides thought leadership on wealth management, investment strategy and global markets; portfolio management solutions; due diligence; and solutions oversight and data analytics. CIO viewpoints are developed for Bank of America Private Bank, a division of Bank of America, N.A., (“Bank of America”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S” or “Merrill”), a registered broker-dealer, registered investment adviser and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).