Use Social Security Maximization

To discover the optimal Social Security benefit collection strategy with the highest lifetime present value, go to the Profile Dashboard and run a Maximization Plan with the Social Security option (the first one in the list) toggled to YES.

If you choose this option, we will analyze all possible Social Security benefit filing date combinations -- technically speaking, sometimes hundreds of thousands of different combinations -- to find the one that maximizes your household's lifetime Social Security benefits. The maximization report will show you the increase in lifetime discretionary spending under the maximized plan. By selecting the menu item at the right, Social Security Filing Date Comparison, you can view the two filing date strategies side by side. To compare the annual amounts for each spouse, use the Compare report and select the comparison for each spouse's Social Security.

If you are trying to determine the best filing strategy before completing all of the financial plan inputs for this family profile (salary, retirement benefits, pensions, etc.) You may get this error if the plan is not affordable or viable:

We are unable to find a sustainable spending level based on the information you've provided.

In order to get a viable plan, you may need to give the family a large amount of regular assets--try 1,000,000--and they will need to at least have a state to live in which is chosen in the housing section.

Keep in mind that a pension from non-covered earnings can impact the results of this calculation, and you may need to enter pension details in order to accurately calculate the strategy in light of GPO/WEP rules.

MaxiFi users wondering if they can just use MaxiFi Planner instead:
Our MaxiFi Planner products do include Social Security maximization and additional retirement account maximization in addition to base personal financial planning features, though the reports regarding Social Security and filing option information is not as detailed, and the professional version of the product does not include the Longevity and Comparison analysis reports that are available in Maximize My Social Security.  Furthermore, as described above, a minimally viable plan needs to be established in order to run a maximization report.