Poll: When Did You/Are You Planning to Start Soc Sec?

[FI_RElater]

You will get the COLA increase either way. You do not have to be collecting in order for the COLA to be added to your PIA.

yes, the COLA will be there... but they only phase in the delayed mortality credits for the year in January
(otherwise you'll be waiting until the next year to be trued up)

For me, slightly lower PIA but older (currently mid-60's... so already in the decision period), I'll be starting in December of year of FRA so that DRC's are counted immediately and so that I still have room for the Roth conversions of IRA (got both non deductible and rollover IRA, so pro rata calculations have to be done; also have 401k that will be rolled over once all that pro rata stuff gets out of the way. Haven't decided yet on any Roth conversions for it... likely will just take out of it instead of using taxable...until age 72, when we'll have to do some calculations as to what is best)

 

[flyingaway]

I have not decided yet. I think the difference is minor if you compare it with the effect of one more year work. If you can retire early voluntarily, the time to take social security should not be that critical.

 

[Winemaker]

My FRA is 66y 8mos, and benny is about$2900. I'm in great health and my plan is to take it at 70 when the benny is projected to be $4200. If things change, I'll change with it.