jollystomper
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Apr 16, 2012
- Messages
- 6,184
In my situation the decision is simple. If I need the money at 62, I'll take it. If not, I'll delay it until I need the money.
Based on our planned retirement spending Our withdrawals to supplement my pension can taken from cash, without having to touch investments, through the year I turn 63. This is the earlier I would consider taking SS. Based on what our portfolio looks like then will determine if I start taking SS to reduce the amount of the withdrawals. If it looks like they are not needed I will delay. I consider myself VERY fortunate to have a pension that helps give me this flexibility.
Since I made much more than DW over the years, the delay would also be to maximize her spousal benefit. That is what my dad did, he delayed SS until 70 so maximize the spousal benefit for my mom. He died at 72 but mom (who was 6 years younger) lived until 86, so it definitely helped her.
Based on our planned retirement spending Our withdrawals to supplement my pension can taken from cash, without having to touch investments, through the year I turn 63. This is the earlier I would consider taking SS. Based on what our portfolio looks like then will determine if I start taking SS to reduce the amount of the withdrawals. If it looks like they are not needed I will delay. I consider myself VERY fortunate to have a pension that helps give me this flexibility.
Since I made much more than DW over the years, the delay would also be to maximize her spousal benefit. That is what my dad did, he delayed SS until 70 so maximize the spousal benefit for my mom. He died at 72 but mom (who was 6 years younger) lived until 86, so it definitely helped her.