According to CNBC, one key calculation to keep in mind, when deciding when to claim Social Security benefits, is the "breakeven point," or the point at which the amount you receive if you claim later equals the amount you would have received if you had started early. However, a few blind spots can create misleading results and lead you astray.

Covisum President, Joe Elsasser, CFP®, was interviewed for this article and offered this advice.

"For a married couple, thinking in terms of break-even age is actually dangerous. Someone who is married and looking at the breakeven is saying, 'I think I should claim early because I'm not sure that I have a long enough life expectancy to cross my break-even age.' There are a lot of I's and my's in that statement, which means there's no concern for the impact of my decision on my spouse."

If you're married, your spouse should be a big consideration in your claiming decision. Claiming your benefits earlier can also reduce your spouse's benefits if they plan to claim on your work record.

You can read the whole article about claiming Social Security benefits here

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