Originally Posted by Redbugdave
Tadpole...If you decide not to take your SS at 62 1/2, and wait till age 65...your SS suppliment will automatically stop at age 62 1/2 anyways. So, you will get nothing till 65 when you start your SS. I have looked at the different angles planning wise...
I'm retiring at the end of the month that I turn 62 so no supplemental.
We are in a good position at first. My husband retired last August and has a small non-colaed pension and his reduced SS. It turns out that with just my FERS pension we will only need about $200 additional funds per month to match our current spending. (This is after some initial expenses connected with our move to another state but I have already pre-saved for this.)
I am also considering taking a 10 year dump (payout annuity) of my TIAA holdings. Coincidentally this is about the same yearly cash flow as SS would have been (without COLA). I will reinvest most of this after-tax. This will reduce the RMD down the road. Just thinking about this though. The truth is that I can probably do this with little affect on our principle even if we spend most of it.